US import tariffs, trade uncertainty, deteriorating geopolitical conditions, and high budget deficits continue to pose significant risks to the economy.
This was stated by Jamie Dimon, CEO of JPMorgan Chase, the largest bank in the United States, in a statement announcing the quarterly results.
However, he said the US economy remained “resilient” in the past quarter. “The completion of tax reform and potential deregulation are positive for the economic outlook,” Dimon stated.
JPMorgan Chase achieved a net profit of $15 billion in the quarter, down 17 percent compared to the same period last year. This, however, was above analysts’ expectations.
Revenue fell by 11 percent to almost $45 billion. The banking group has raised its forecast for total interest income in 2025.
