Risk of ‘wrathful Old Testament–style’ reaction from central banks is rising, JPMorgan says
The “gentle and forgiving path” taken by developed-market central banks to rein in inflation over the past year is likely to prove unsuccessful and trigger the need for more forceful, biblical-type action.That’s the view of economists Bruce Kasman, Joseph Lupton and Michael Hanson of JPMorgan Chase & Co. JPM, +1.10%, who described the response of […]
Credit Suisse Bank Losses Deepen, Threatening Overhaul: WSJ
Credit Suisse Group AG reported a fifth consecutive quarterly loss and said rich customers withdrew around $100 billion in the fourth quarter, signs that the beleaguered lender has yet to turn the corner. The Swiss bank is trying to recover from scandals and financial losses with a sweeping overhaul. It wants to focus on wealth […]
Citigroup’s Jane Fraser is fine with remote work — as long as employees stay productive
Shape up or ship into the office. That was essentially the message Citigroup Inc. Chief Executive Jane Fraser had Tuesday for employees who slack off while working from home. While Citigroup C, -1.75% has been an outlier among Wall Street banks, offering a more flexible hybrid work schedule than most of its peers, that flexibility […]
JPMorgan Chase, Bank of America and Wells Fargo earnings show the good, the bad and the ugly of people’s finances. So how are they holding up?
Friday’s wave of big-bank earnings gives an important glimpse into Americans’ finances amid high prices, rising interest rates and recession worries. At first glance, most consumers appear to be keeping their heads above water.A day after December inflation data showed price increases coming off the boil – but still high — fourth-quarter earnings showed some […]
The Fed has won its ‘war’ against inflation, says JPMorgan analyst. And now it needs to stop hiking interest rates.
“‘This is a war that [the Federal Reserve has] won, and now they are in danger of tipping the economy into recession and making the fiscal problem worse, so I wish they would be done.’” — David Kelly, JPMorgan Chase & Co. A top global markets strategist for JPMorgan Chase & Co.’s asset-management business said […]