In JPMorgan Chase's third-quarter results release, Dimon acknowledged what he described as “significant human suffering,” noting the “outcome of these situations could have far-reaching effects on both short-term economic outcomes and more importantly on the course of history.”
JPMorgan Chase, the biggest bank in the world, posted earnings showing a 2 percent loss in net income from the year before, down to $12.9 billion. Revenue was up 6 percent, to $43.4 billion, the report showed.
Still, Dimon warned that while inflation appears to be slowing and the country has avoided recession, “several critical issues remain, including large fiscal deficits, infrastructure needs, restructuring of trade and remilitarization of the world.”
To Dimon’s point, CNBC reported last week that the Russian government approved a draft budget that upped defense spending by 25 percent from 2024.
The Hill’s Juliann Ventura has more here.
