and global economy is weakening in the face of worldwide inflation and the war in Ukraine. Such comments reflect the growing evidence that the U.S. 14,, as the bank set aside roughly a billion dollars to cover potential losses in what CEO Jamie Dimon has said a could be a recession in six to nine months. JPMorgan Chase & Co.'s third quarter profits fell by 17% from a year earlier, Friday, Oct. Bank.Ī Chase bank branch is shown, Sunday, April 10, 2022, in Miami Beach, Fla. “We recognize the pressure points are building in several areas of the economy that could lead to stress in the future,” said Andy Cecere, CEO of U.S. Many did so again Friday after reporting their quarterly results, but this time with an overriding sense of caution. economy from Wall Street’s biggest banks is getting gloomier, with many top executives saying they’re preparing for a potential downturn or a recession.įollowing the short but potent pandemic recession in 2020, many bank CEOs have spent the past year and a half trumpeting the strength of the U.S.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |