Warnings from the chief executive of the nation’s largest bank have been consistently at odds with heady financial markets.
By Rob Copeland. April 12, 2024 Updated 8:18 a.m. ET "Jamie Dimon, the chief executive of JPMorgan Chase, on Friday warned of an “unsettling” global landscape, highlighting a cascade of pressures including war, rising geopolitical tensions and inflation that threaten the economy and could weigh on the performance of the nation’s largest bank." " JPMorgan’s financial performance was affected by more ordinary issues. While it earned more than $13 billion in the first quarter, the bank’s average customer deposits fell, and it warned of higher expenses in the future. JPMorgan also disclosed a fall in its so-called net interest income, a closely watched financial metric that essentially measures how much money it is able to make from lending. Wells Fargo, the nation’s third-largest bank, on Friday separately reported earnings that also included a drop in that measure. JPMorgan’s shares were down 3 percent in trading before markets opened on Friday." NYTimes