JPMorgan Chase Tops Estimates but CEO Cautions Investors
“The economy is facing considerable turbulence..."
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- Written by Banking Exchange staff
On Friday, JP Morgan Chase delivered better-than-expected earnings in the midst of turbulent markets and rang a cautious tone on the economy.
CEO Jamie Dimon has been outspoken against President Trump’s tariff policies, but his report card on Trump today was mixed.
Dimon said, “The economy is facing considerable turbulence (including geopolitics), with the potential positives of tax reform and deregulation and the potential negatives of tariffs and ‘trade wars,’ ongoing sticky inflation, high fiscal deficits and still rather high asset prices and volatility.”
Revenue at the bank rose 8% and profits rose 9% to $5.07 a share, guiding its stock higher before markets opened.