US banks rise on results, but warn on inflation and wars

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/FileShares of US banks jumped Friday following strong results, but executives cautioned that beneficial industry conditions were moderating and said wars in

"US consumers and businesses generally remain healthy, although, consumers are spending down their excess cash buffers," said JPMorgan Chase Chief Executive Jamie Dimon. Bank executives have said in recent months that they expect this dynamic to"normalize," reiterating that view on Friday. Throughout the Covid-19 period and in the immediate aftermath, consumers have largely successfully managed credit card payments, although delinquencies have risen in recent quarters.

Source: News Formal (newsformal.com)

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