Business

JPMorgan Chase sees an economic turmoil, but so far little sign of a recession

At the second quarter gain JPMorgan Chase & Co. was down 28% from a year earlier, though the nation’s largest bank said it was seeing little sign of a recession approaching, stressing uncertainty over markets and the economy.

The New York-based company said customers continued to spend despite rising inflation, companies continued to borrow and loan losses were almost non-existent. But executives have said there is more uncertainty than normal, reducing large business activities such as mergers and acquisitions, and setting aside more funds for banks that may have future loan losses.

JPMorgan Chase sees an economic turmoil, but so far little sign of a recession

Source link JPMorgan Chase sees an economic turmoil, but so far little sign of a recession

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