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, 2024Updated 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

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