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In the face of high inflation, rising interest rates and a slowing global economy, banks are setting aside reserves — just in case.
On Friday, Bank of America, Citigroup, Wells Fargo and JPMorgan Chase will post earning reports. Parts of their business struggled in the fourth quarter.
Banks are reporting increased lending to both consumers and businesses.
Remember: this economy is very unusual.
A strong stock market is giving banks a boost at the moment.
Quarterly earnings for big banks like Citigroup and JPMorgan Chase are beating expectations thanks to a soaring stock market.
Many banks are still expected to pay dividends to shareholders.
JPMorgan Chase and Citigroup are reporting weaker than expected earnings this week. Market volatility may have contributed to this as clients shy away from trading, which is a big part of banks’ business these days. Click the audio player above to hear the full story.
Banks are learning to live with "lower for longer" interest rates.
While global headwinds cut profits, regulation has created more stable institutions