JPMorgan Chase reported another highly profitable quarter Friday, but warned inflation could persist and said wars in Ukraine and the Middle East mean this 'may be the most dangerous time the world has seen in decades.' This may be the most dangerous time the world has seen in decades,' Dimon said.
Pointing to wars in Ukraine and the Middle East, JPMorgan Chase Chief Executive said 'this may be the most dangerous time the world has seen in decades'. Photo: ALEX WONG / GETTY IMAGES NORTH AMERICA/Getty Images via AFP/FileThe lender, the biggest US bank in terms of assets, reported third-quarter profits of $13.2 billion, up 35 percent from the year-ago period.
"We don't know exactly when, but we know it will" normalize, Chief Financial Officer Jeremy Barnum said on a conference call with reporters."We're going to respond to competition." In Friday's press release, JPMorgan Chief Executive Jamie Dimon said"US consumers and businesses generally remain healthy, although, consumers are spending down their excess cash buffers."
"Persistently tight labor markets as well as extremely high government debt levels with the largest peacetime fiscal deficits ever are increasing the risks that inflation remains elevated and that interest rates rise further from here," said Dimon.
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