JPMorgan Chase profits jump, warns inflation could persist
JPMorgan Chase reported a highly profitable third quarter, with profits of $13.2 billion, up 35% from the previous year. The bank cited higher interest rates and good credit quality as drivers for the positive results. However, CEO Jamie Dimon warned of persisting inflation and described the current global situation as the most dangerous in decades due to the turmoil in the Middle East and the war in Ukraine.
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