JPMorgan CEO Jamie Dimon said the U.S. economy is going through a rough patch, with challenges like global tensions, stubborn inflation, high government spending, and expensive asset prices creating uncertainty. While there are some positives—such as potential gains from tax reforms and deregulation—he warned of risks from ongoing trade tensions and market volatility. The bank is staying cautious and preparing for all kinds of scenarios.
Despite the economic turbulence, JPMorgan reported solid financial performance. In the latest quarter, it bought back $7 billion worth of its own stock and raised its dividend by 12%, a move backed by strong earnings and healthy capital levels. Dimon emphasized that the bank is keeping plenty of reserves, with a CET1 capital ratio of 15.4% and $1.5 trillion in cash and marketable securities.
He stressed the importance of maintaining high liquidity and a strong balance sheet, especially in uncertain times. This financial strength, often referred to as a “fortress balance sheet,” helps the firm remain resilient during periods of market stress.
Dimon ended by saying that JPMorgan remains focused on serving a wide range of clients—from individuals to governments—and will continue to support communities regardless of economic conditions.
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