By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Live Trading NewsLive Trading NewsLive Trading News
  • Stocks
  • Forex
  • Gold
  • KNIGHTS
  • Luxury
  • Horse Racing
  • Trade Now
Search
Reading: JPMorgan Chase See Dangerous World
Share
Live Trading NewsLive Trading News
  • Stocks
  • Forex
  • Gold
  • KNIGHTS
  • Luxury
  • Horse Racing
  • Trade Now
Search
  • Stocks
  • Forex
  • Gold
  • KNIGHTS
  • Luxury
  • Horse Racing
  • Trade Now
Follow US
© 2024 LiveTradingNews.com - All Rights Reserved.
Live Trading News > Blog > Politics > America > JPMorgan Chase See Dangerous World
America

JPMorgan Chase See Dangerous World

Shayne Heffernan Ph.D.
Last updated: October 13, 2023 11:16 pm
Shayne Heffernan Ph.D.
Share
4 Min Read
jpm chase logo final
SHARE

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.”

The 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.

Revenues rose 22 percent to $39.9 billion.

The biggest factor in the profit jump was the much increased earnings in net interest income (NII), which measures the gap between what the bank makes in interest in loans to clients compared with interest payments to customers.

JPMorgan again increased its full-year NII forecast, which essentially shows that the bank has been able to benefit from consumers who have kept money in accounts receiving lower interest than are available elsewhere in the market.

Bank executives have said in recent months that they expect this dynamic to “normalize,” reiterating that view on Friday.

“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.”

A second factor behind the strong results has been the continually healthy state of consumer balance sheets, which has limited the number of defaults.

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.

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.”

During the call, Barnum attributed the continued health of US consumers in part to the labor market, which he characterized as “fairly strong.”

The positive trends in NII, consumer credit and higher profits from commercial banking helped JPMorgan offset some areas of weakness such as corporate and investment banking, where overall revenues dipped two percent. JPMorgan said the results excluded the impact of its purchase of First Republic.

Dimon, who has warned for months of “storm clouds,” reiterated that the economy faces significant headwinds.

“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.

“The war in Ukraine compounded by last week’s attacks on Israel may have far-reaching impacts on energy and food markets, global trade, and geopolitical relationships. This may be the most dangerous time the world has seen in decades,” Dimon said.

On the conference call, Dimon said the comments about the potential for interest rates to rise further reflected risk management rather than a prediction.

While the fallout from the wars have economic effects, he described those as secondary compared with the impact on geopolitical relations and the “effect on the Western world.”

Shayne Heffernan

You Might Also Like

St. Francis: The Deeds You Do Today

Tokenization and the Future of Financial Markets

InfoFi: The Latest Abomination in Crypto

Asia’s Growth Resilience Amid U.S. Tariffs

What We Know Exists in the Epstein Files

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.

Subscribe our newsletter for latest news around the world. Let's stay updated!

By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Twitter Copy Link Print
Share
By Shayne Heffernan Ph.D.
Follow:
Shayne Heffernan Ph.D. Economist at Knightsbridge holds a Ph.D. in Economics and brings with him over 40 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Crypto, Mining, Shipping, Technology and Financial Services.
Previous Article GettyImages 1236525221 1 Stopping PornHub Can Improve Your Life
Next Article 20231010 Greenlight Blockstream Launches Greenlight for Scalable, Non-Custodial Lightning Integration
Buy Bitcoin

Buy Bitcoin

Latest News

Ethereum Co Founder Supports Coin Center with 320 ETH
Ethereum Trading Outlook
Crypto Ethereum Featured Headline News KXCO Opinion Shayne Heffernan Shayne Heffernan Shayne Heffernan on Investments USD July 8, 2025
shayne heffernan bitcoin
Bitcoin Trading Outlook
America Bitcoin Bitcoin Technicals Education Featured Gold Headline News Knightsbridge KXCO KXCO KXCO Guide Opinion Politics Shayne Heffernan Shayne Heffernan Shayne Heffernan on Investments Sovereign Individual Strategy USD July 8, 2025
mj 618 348 the prophet of paranoia
The 20 Great Quotes of John McAfee
Bitcoin Headline News Most Popular Opinion Politics Shayne Heffernan Shayne Heffernan Shayne Heffernan on Investments July 6, 2025
image 36
New Cold War Looms as Tariffs Shift from Trade to Politics
Bitcoin Economy Headline News KXCO KXCO KXCO Guide Opinion Politics Shayne Heffernan Stablecoins July 6, 2025

Stay Connected

235.3kFollowersLike
69.1kFollowersFollow
11.6kFollowersPin
56.4kFollowersFollow
4.4kFollowersFollow
//

Stay informed with LiveTradingNews.com – your ultimate destination for timely and insightful updates on global markets, finance, and investment trends. Explore the latest news and analysis to empower your trading decisions.

Quick Link

  • About us
  • Advertise
  • Send us a tip!
  • Privacy Policy
  • Contact us

Top Categories

  • Knightsbridge Insights
  • Featured
  • Stocks
  • Shayne Heffernan
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

Subscribe our newsletter for latest news around the world. Let's stay updated!

Live Trading NewsLive Trading News
Follow US
© 2025 LiveTradingNews - For The Traders, By The Traders – All Right Reserved By Knightsbridge Group
Welcome Back!

Sign in to your account

Register Lost your password?