{
Michelle Gustafson

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big banks report mixed results amid federal reserve interest rate cuts

Profits at JPMorgan Chase and Wells Fargo fell but exceeded expectations, indicating a resilient economy despite mixed effects from the Federal Reserve's recent interest rate cut. JPMorgan reported nearly $13 billion in profit, while Wells Fargo earned $5.1 billion, both facing challenges from rising customer deposits at competing banks and concerns over commercial real estate loans. Geopolitical tensions and the upcoming U.S. presidential election add to the uncertainty in the financial sector.
@nytimes
United States Dollar JPMorgan Chase & Co. Wells Fargo & Company USA Michelle Gustafson Goldilocks Warren Buffett Jamie Dimon Mike Santomassimo Show more
TradFi, News Article
14:11 11.10.2024
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