Magazine : Archives : 2nd Quarter 2020
Navigating an Uncertain Future
In its 2020 investor day presentation, JPMorgan Chase & Co. outlined three headwinds facing its bank and by extension, the banking industry: a declining rate environment, pressuring net interest margins; slowing economic growth, both in the U.S. and globally; and the “raising specter” of the next credit cycle. Since the financial crisis, the U.S. economy has witnessed the longest period of economic expansion in its history. But what goes up must come down. Banks are already under pressure: The Federal Deposit Insurance Corp. reported in February that net income across the industry fell by 1.5% in 2019, compared to the...
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