Jamie Dimon, Chairman of the Board and Chief Govt Officer of JPMorgan Chase & Co., gestures as he speaks throughout an interview with Reuters in Miami, Florida, U.S., February 8, 2023.
Marco Bello | Reuters
Past the navy conflicts, Dimon cited the burgeoning nationwide debt and “the biggest peacetime fiscal deficits ever” that he stated are elevating the dangers that inflation and rates of interest stay excessive.
Together with the excessive charges, he talked about the Federal Reserve’s efforts to scale back its bond holdings. The method, often known as quantitative tightening, “reduces liquidity within the system at a time when market-making capabilities are more and more restricted by laws,” he stated.
Dimon not too long ago has stated that he has been warning purchasers concerning the risk that rates of interest could not solely keep elevated but additionally might rise considerably from right here.
“Whereas we hope for the perfect, we put together the Agency for a broad vary of outcomes so we will constantly ship for purchasers irrespective of the surroundings,” he stated.
JPMorgan Chase confirmed a $13.15 billion, or $4.33 a share, revenue for the July-through-September interval, a 35% soar from a yr in the past. Dimon additional cautioned that the efficiency got here from advantages to internet curiosity earnings and credit score prices that possible will not final.
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