JPMorgan Chase reviews decrease income, provides cautious financial outlook

New York: JPMorgan Chase reported a drop in second-quarter income on Thursday, reflecting the impression of a weakening macroeconomic outlook that led it to put aside funds in case of unhealthy loans.

The massive US financial institution’s earnings got here in at $8.6 billion for the quarter, down 28 % from the year-ago interval in outcomes that missed analyst expectations.

Chief Govt Jamie Dimon stated key parts within the US financial system remained wholesome, however that macroeconomic headwinds together with inflation “are very prone to have damaging penalties on the worldwide financial system someday down the street.”

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