US EditionJPMorgan Chase Reports Mixed Results as Dimon Defends Fed Chief
JPMorgan posted $13 billion in Q4 profits, down 7%, as CEO Dimon praised Federal Reserve Chair Powell and warned against political interference in US monetary policy.
- Tuesday, JPMorgan Chase reported a quarter's profits, and Dimon said `While I don’t agree with everything the Fed has done, I do have enormous respect for Jay Powell.`
- By assuming Apple's card business, JPMorgan Chase established a reserve of $2.2 billion to cover the Apple credit card portfolio, which executives said weighed on results.
- Revenues rose seven percent to $45.8 billion as trading-related revenues climbed while investment banking fees fell, supported by higher net interest income.
- Shares of JPMorgan fell 3.5 percent in midday trading as expenses grew five percent and some deals were pushed into 2026, raising operational concerns.
- Executives criticized President Donald Trump's call last week to cap credit card interest at 10 percent, with Jeremy Barnum saying `Instead Of lowering the price of credit, it will simply reduce the supply of credit.
37 Articles
37 Articles
The U.S. Department of Justice’s attacks on the Federal Reserve have the potential to undermine central bank independence and raise borrowing costs, warned Jamie Dimon, CEO of JPMorgan. “Everyone we know believes in Fed independence,” Jamie Dimon said during a media call on Tuesday, January 13, after his company reported fourth quarter results. “Anything that erodes it probably isn’t a good idea. And, in my opinion, it will have opposite consequ…
Former Fed and U.S. Treasury leaders supported the head of the central bank, Jerome Powell, before the "attacks" to undermine his independence.
For Jamie Dimon, the intervention by the Administration of Trump has the effect on the river against what the President of the United States is seeking, i.e. to increase the interest rates, following the silence of the President of the Federation on the small works in the institution's building.
According to Dimon, the US Department of Justice's action has the potential to increase borrowing costs.
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