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JPMorgan Chase chief executive Jamie Dimon warned that the US economy is facing “considerable turbulence” as the US bank reported a 9 per cent increase in profits for the start of 2025.
The largest US lender on Friday said net income in the first quarter rose to $14.6bn, up from $13.4bn from a year earlier and ahead of the $13.6bn analysts had expected.
“The economy is facing considerable turbulence (including geopolitics), with the potential positives of tax reform and deregulation and the potential negatives of tariffs and ‘trade wars’, ongoing sticky inflation, high fiscal deficits and still rather high asset prices and volatility,” Dimon said.
“As always, we hope for the best but prepare the Firm for a wide range of scenarios.”
This is a developing story
