JAMIE DIMON

The Fed will continue raising interest rates this week as inflation continues to soar. Some CEOs worry the fight to bring prices under control could end up sparking an economic downturn.

The odds of a recession may be rising, but it’s unlikely to be a deep one, said Morgan Stanley CEO James Gorman.

Over the past week, Jim Cramer reconnected with many executives and CEOs in CNBC's San Francisco bureau, and he was shocked by how much is different from 2020.

Neobanks like Varo and Monzo overlook history’s expensive lessons at their peril.

The bank’s own chief economist and top-ranked market strategist are breaking with the CEO, underscoring the complexity of the current economy and markets.

Asian stock markets are mixed following a bond sell-off on Wall Street amid anxiety about higher U.S. interest rates.

(AP Photo/John Minchillo, file) (John Minchillo)BEIJING — (AP) — Asian stock markets were mixed Tuesday following a bond sell-off on Wall Street amid anxiety about higher U.S. interest rates. Wall Street's benchmark S&P 500 index rose 0.3% on Monday while the market price of a 10-year Treasury bond fell. Markets are “trading in a holding pattern” while traders wait for the Federal Reserve's next moves on interest rates, said Yeap Jun Rong of IG in a report. Then, it reached its highest point since 2018 amid expectations for the Federal Reserve to raise interest rates aggressively. The yen is depressed because Japanese interest rates have stayed near record lows while rates are rising in the United States and Europe.

Stocks are off to a higher start on Wall Street Monday, June 6, 2022 led by more gains in big tech companies. (AP Photo/John Minchillo, file) (John Minchillo)NEW YORK — (AP) — U.S. stocks are ticking higher Monday as Wall Street keeps wrestling with whether the economy will successfully avoid a recession amid rising interest rates and high inflation. The S&P 500 was 0.7% higher, shortly before 2 p.m. Eastern time. Amazon was the biggest force pushing the S&P 500 higher, accounting for nearly a sixth of the index’s gain all by itself. Big swings could still be ahead for Wall Street this week, particularly on Friday when the U.S. government releases its latest monthly update on inflation.

Inflation is painful, but policies that could undermine longer-term growth are far more worrying.

Markets will be dominated by two forces – concern over inflation, or "fire," and recession, or "ice," said Pick, co-President of the bank.

President Biden wished the Tesla CEO "lots of luck on his trip to the moon" in response to his doubts about the U.S. economy.

Musk wants the electric auto maker to cut 10% off its staff according to a Reuters report.

Tesla’s bloated workforce may help explain the CEO’s gloomy outlook.

In an email to executives, the billionaire CEO says he has a “super bad feeling” about the economy.

Sometimes a little hyperbole is appropriate. The JPMorgan chief is right to hoist the warning flag as the global picture darkens.

It won't necessarily be a recession, but expect a rocky road ahead, warns the JPMorgan Chase CEO.

American consumers gained an estimated $2.5 trillion in excess savings during the pandemic, but rising prices are pushing savings rates to new lows.

U.S. stocks ended the first trading day in June on a down note as economic worries weighed on investor sentiment.

Most of the U.S. has been seeing just "slight or modest" economic growth over the past two months or so, according to a Fed report Wednesday.

"You know, I said there's storm clouds but I'm going to change it… it's a hurricane," Dimon said Wednesday at a financial conference in New York.

More than half a dozen employees at America's largest bank tell Insider why the firm's surveillance leaves them feeling fearful and untrusted.

The bank estimated that bitcoin, which was trading just above $29,600 on Thursday afternoon, was undervalued by 28%.

The median pay package for the CEOs of the biggest U.S. companies rose 17.1% in 2021 as the economy rebounded and company profits and stock prices jumped. CEO pay took off as stock prices and profits rebounded sharply as the economy roared out of its brief 2020 recession. Because much of a CEO's compensation is tied to such performance, their pay packages ballooned after years of mostly moderating growth. Surveys suggest Americans across political parties see CEO pay as too high, and some investors are pushing back. Even so, only 31% of investors at JPMorgan Chase’s annual meeting of shareholders recently gave a thumbs up on Dimon’s pay package.

CEO pay took off as stock prices and profits rebounded sharply as the economy roared out of its brief 2020 recession. Because much of a CEO’s compensation is tied to such performance, their pay packages ballooned after years of mostly moderating growth. Only about a quarter of the typical pay package for all S&P 500 CEOs last year came as actual cash they could pocket. Surveys suggest Americans across political parties see CEO pay as too high, and some investors are pushing back. Even so, only 31% of investors at JPMorgan Chase’s annual meeting of shareholders recently gave a thumbs up on Dimon’s pay package.

Expedia's Peter Kern and Warner Bros.

Pay for CEOs who run the biggest U.S. companies soared 17.1% last year, up to a median of $14.5 million.

Calls for U.S. companies to perform what are known as civil rights audits grew in the wake of the protests that erupted across the U.S. in 2020 after the murder of George Floyd. They’ve been promoted by advocates as a way to help corporations understand and address their role in creating or sustaining racial disparities. They’ve also been dismissed by JPMorgan Chase & Co. Chief Jamie Dimon for adding “bureaucracy and BS,” although his company later agreed to conduct a narrow analysis. Shareh

The Federal Reserve is in the middle of an inflation-fighting campaign that has pummeled markets, especially for formerly high-flying growth stocks.

There is a technology arms race in finance. The banks that can afford to spend the most will reap the greatest rewards.

Calls for U.S. companies to perform what are known as civil rights audits grew in the wake of the protests that erupted across the U.S. in 2020 after the murder of George Floyd. They’ve been promoted by advocates as a way to help corporations understand and address their role in creating or sustaining racial disparities. They’ve also been dismissed by JPMorgan Chase & Co. Chief Jamie Dimon for adding “bureaucracy and BS,” although his company later agreed to conduct a narrow analysis. Shareh

JPMorgan is holding its first Investor Day since 2020 in response to questions from investors and analysts about the bank's strategy and investments.

Oklahoma's state legislature has passed an anti-abortion law that would be the most restrictive law in the nation. The legislation prohibits abortion at any point in pregnancy, except to save a woman's life or in cases of rape or incest reported to police. CBS News chief legal correspondent Jan Crawford reports.

The disapproval was the first time JPMorgan's board suffered a down vote on compensation since "say on pay" measures were introduced more than a decade ago.

Calls for U.S. companies to perform what are known as civil rights audits grew in the wake of the protests that erupted across the U.S. in 2020 after the murder of George Floyd. They’ve been promoted by advocates as a way to help corporations understand and address their role in creating or sustaining racial disparities. They’ve also been dismissed by JPMorgan Chase & Co. Chief Jamie Dimon for adding “bureaucracy and BS,” although his company later agreed to conduct a narrow analysis. Shareh

The head of the biggest U.S. bank points out how much unregulated competition is out there.

J.P. Morgan Chase CEO Jamie DImon and other executives donated to Democratic Sen. Kyrsten Sinema as she opposed key elements of her party's agenda.

The three big Wall Street banks smashed expectations for stock- and bond-trading revenue but don’t know how long that can last.

"Search for stocks that can work long-term regardless of whether we're in the best of times, the worst of times, or both," the "Mad Money" host said.

The JPMorgan CEO's remarks show just how quickly events can change the economic landscape.

JPMorgan’s CEO can’t predict how the war in Ukraine or the Fed’s inflation fight will play out, but he is optimistic about the U.S. consumer.

JPMorgan Chase said its first quarter profits dropped by 42% from last year, partly because the bank had to write down nearly $1.5 billion in assets due to higher inflation and Russia’s war in Ukraine.

JPMorgan Chase’s digital-only British operation will be a testing ground for infrastructure, technology, products and ideas.

Thiel's highly personal attack on Buffett, Dimon and Fink does nothing to make the case for bitcoin.

At a bitcoin conference in Miami, Peter Thiel went on a rant about financial opinion leaders who he says are trying to stop the cryptocurrency.

JPMorgan-CEO Letter FILE - JP Morgan CEO Jamie Dimon looks on during the inauguration the new French headquarters of JP Morgan bank, June 29, 2021 in Paris. Dimon laid out a laundry list of big risks looming for the global and U.S. economy in his annual letter to JPMorgan Chase shareholders on Monday, April 4, 2022. Dimon spent much of the latest letter discussing the issue of inflation, which has accelerated sharply in the past year and is now at four-decade highs. He warned that the war in Ukraine could accelerate inflation due to higher food and energy costs. He also put some blame on the Federal Reserve, which now faces a need to increase interest rates sharply this year to combat inflation.

Jamie Dimon laid out a laundry list of big risks looming for the global and U.S. economy in his annual letter to JPMorgan Chase shareholders on Monday.

High inflation and Russia's Ukraine war may "dramatically increase the risks ahead," Dimon wrote in his annual shareholder letter.

Jamie Dimon's annual letter to JPMorgan shareholders, read widely in business circles, took a more downcast tone from his missive just last year.

Credit card deals with popular brands including Amazon, Costco and American Airlines are some of the most hotly contested contracts in the financial world.

Two years after sending employees home en masse in the early days of the pandemic, corporations are preparing for the return to office life.

JPMorgan Chase, the biggest U.S. bank by assets, is stepping away from Russia.

There are plenty of things to worry about in the world, but neither inflation nor war nor Covid-19 can blunt the optimism of chief executive officers.

Global liquidity is easier to safeguard than it was during the global financial crisis.

The invasion of Ukraine is bringing to an end Western investment in Russia.

CEO Jamie Dimon is aggressively investing to help his bank battle fintech firms.

Three of the nation’s biggest banks reported blowout profits for 2021 on Friday, helped by the improving economy and consumers and businesses willing to spend and take on loans.

Whether you love cryptocurrencies or hate the very idea of them, they’re becoming more mainstream by the day.

JPMorgan Chase says profits rose 24% in the third quarter, largely driven by one-time items that boosted its results, as the bank struggled to grow revenues with interest rates at near-zero levels.

It's been a tempestuous week in Washington, with insults and accusations flying, deadlines pressing and some major things to get done.

Wall Street’s big investment banks are sending a message to their employees this summer: Get back into the office and bring your vaccination card.

Most of the women running the biggest U.S. companies saw their pay increase last year, even as the pandemic hammered the economy and many of their businesses.

The CEOs of the six biggest U.S. banks have appeared before Congress, eager to lay out their support for struggling consumers and small businesses.

JPMorgan Chase will take another crack at fixing health care after a push with two other corporate giants dissolved earlier this year.

JPMorgan Chase will promote two women to jointly manage the bank’s consumer finance division, potentially signaling that a woman may eventually run the nation’s biggest bank.

JPMorgan Chase saw its first quarter profits jump nearly five fold from a year earlier, as the improving economy allowed the bank to release roughly $5 billion from its loan-loss reserves that it had stored away in the early weeks of the pandemic.

The nation’s largest banks are expected to report big profits for the first quarter amid renewed confidence that pandemic-battered consumers and businesses can repay their debts and start borrowing again.

(AP Photo/Mark Lennihan)CHARLOTTE, N.C. – The pandemic and recession aren’t over by a long shot, but banks are feeling optimistic enough to start taking potentially “bad” loans off their books and move them back into the “good” pile. Citigroup had a similar story, releasing $1.5 billion of its loan-loss reserves that it had set aside earlier last year. Still, those amounts are just a fraction of the tens of billions of dollars into their so-called loan-loss reserves to cover potentially bad loans in the first months of the pandemic. In releasing funds from loan-loss reserves, the banks cited the improvement in the economy. JPMorgan still has more than $30 billion tied up in its loan-loss reserves, and banks like Citi and Wells have similar figures on their balance sheets.

JPMorgan Chase & Co., the nations largest bank by assets, said its fourth quarter profits jumped by 42% from a year earlier, as the firms investment bank division had a stellar quarter and the banks balance sheet improved despite the pandemic. Excluding one-time items, the bank earned $3.07 a share, which is well above the $2.62 per share forecast analysts had for the bank. Banks had set aside tens of billions of dollars to cover potentially bad loans, and JPMorgan had been particularly aggressive in setting aside funds early in the pandemic. The driver of JPMorgan's profits this quarter was the investment banking business. The corporate and investment bank posted a profit of $5.35 billion compared with $2.94 billion in the same period a year earlier.

A health care venture created in 2018 by the three corporate giants to attack soaring care costs will shutter only a couple years after launching. (AP Photos, File)INDIANAPOLIS – A health care venture conceived by Amazon, Berkshire Hathaway and JPMorgan to attack soaring costs is dissolving. Haven, which was formed in 2018 by the three U.S. corporate giants, will cease operations by the end of February, a company spokeswoman said Monday. Health care costs have grown faster than wages and inflation for years, stressing families and employers. It started new designs for health care benefits that eliminated patient out-of-pocket payments like deductibles and coinsurance and encouraged access to primary care.

In the early months of the U.S. pandemic, banks set aside tens of billions of dollars to cover losses that could come from loans that were suddenly going bad. On top of the stimulus, banks entered into this pandemic the healthiest they’ve been in years and certainly healthier than they were before the financial crisis of 2008. JPMorgan set aside $611 million to cover potentially bad loans in the third quarter, a fraction of the $10.47 billion the bank set aside to cover bad loans in the second quarter. On Wednesday, Bank of America said it set aside $1.4 billion to cover potentially bad loans, far less than the $5.1 billion it set aside three months earlier. Most of the worry seems to reflect investors' uncertainty about whether banks will have to set aside additional billions in the future.

Both Citi and JPMorgan set aside fewer funds to cover potentially bad loans, contributing to the improvement in their third-quarter results. JPMorgan had $611 million in loan loss provisions this quarter, a fraction of the $10.47 billion the bank set aside in the second quarter. Meanwhile Citigroup’s provision for credit losses was $2.26 billion in the third quarter compared to $7.9 billion the quarter before. Citi said its third-quarter net income fell to $3.23 billion from $4.91 billion a year earlier. JPMorgan and Citi were the first of the major banks to report its results this week.

CHARLOTTE, N.C. – JPMorgan Chase said Thursday it will extend billions in loans to Black and Latino homebuyers and small business owners in an expanded effort toward fixing what the bank calls “systemic racism” in the country’s economic system. “Systemic racism is a tragic part of America’s history,” said JPMorgan Chase CEO Jamie Dimon in a statement. Citigroup announced last month it is committing $1 billion toward closing “the racial wealth gap” in the United States, including $550 million toward homeownership programs for racial minorities. He noted that there’s a 30% gap between Black and white homeownership, amounting to about 4.5 million households. JPMorgan was one of 27 major New York-based companies that joined a program to recruit 100,000 workers from the city's low-income, predominately Black, Latino and Asian communities over the next 10 years.

NEW YORK Citigroup announced that Jane Fraser would succeed Michael Corbat as the bank's next chief executive, making Fraser the first woman to ever lead a Wall Street bank. Fraser is currently head of Citi's global consumer banking division, a major part of the bank that includes checking and savings accounts but also Citi's massive credit card business. Fraser will be the first woman to lead one of Wall Street's big six banks. JPMorgan Chase's Jamie Dimon has had women as his second-in-command for years, but shows no signs of stepping down from the CEO role. Corbat turned Citi into a much smaller and stable entity, focusing on its credit card businesses and its international banking franchise.

Thanks largely to the funds set aside for bad loans, JPMorgan's profit fell by half in the April-June quarter, Citigroup's sank about 70% and Wells Fargo reported its first quarterly loss since the financial crisis of 2008. In its second-quarter results, JPMorgan said it set aside $10.5 billion to cover potentially bad loans. Thats on top of the $8.3 billion the bank set aside in April, when the pandemic was only just starting to impact the U.S. economy. Citi, which is heavily exposed in credit cards, set aside an additional $7.9 billion to cover potentially bad loans. Wells Fargo, which did not set aside as much money as its peers in April, had to play catch up this quarter, setting aside $8.4 billion to cover potentially bad loans.