Jamie Dimon, the bank’s chief executive, has deep political connections, and his prognostications on the economy are scrutinized in some circles as closely as a central banker’s musings.
The U.S. economy “continues to perform better than many had expected,” said Charles W. Scharf, the bank’s chief executive.
Unlike the other banks, Citigroup reported a fall in second-quarter profit, although the decline was not as severe as analysts had predicted.
The U.S. government debt-limit standoff in April and May was also reflected in the banks’ results, with Citi citing anxiety during the negotiations as pushing investment-banking clients to the “sidelines” during the second quarter.
What’s NextIn the next week or so, a slew of other banks will report quarterly earnings.
Persons:
Jamie Dimon, Dimon, didn’t, ”, Wells, “, Charles W, Scharf, Jane Fraser, Goldman Sachs
Organizations:
JPMorgan, Treasury, Citigroup, Citi, Western Alliance and Comerica
Locations:
U.S, Wells Fargo, Republic