Jamie Dimon, Chairman of the Board and Chief Government 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 cut 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 rules,” he stated.
Dimon not too long ago has stated that he has been warning purchasers concerning the risk that rates of interest might not solely keep elevated but in addition may rise considerably from right here.
“Whereas we hope for the perfect, we put together the Agency for a broad vary of outcomes so we are able to persistently ship for purchasers regardless of the setting,” he stated.
JPMorgan Chase confirmed a $13.15 billion, or $4.33 a share, revenue for the July-through-September interval, a 35% bounce from a 12 months in the past. Dimon additional cautioned that the efficiency got here from advantages to internet curiosity revenue and credit score prices that doubtless will not final.
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