(Original title: JPMorgan Chase’s revenue hit a record high, and the latest forecast shows that the possibility of the Fed raising interest rates in May is nearly 90%)
Securities Times e company news, JPMorgan Chase, a leading company in the US banking industry, said on Friday that thanks to the continued interest rate hikes by the Federal Reserve, JPMorgan Chase handed over a financial report that exceeded market expectations. An increase of 25%; net profit rose by more than 50% year-on-year to US$12.6 billion. Both Citigroup and Wells Fargo’s revenues in the first quarter were higher than market expectations. According to the analysis, the first-quarter performance of the banking industry shows that large US financial institutions have so far successfully withstood the impact of the Federal Reserve’s tightening monetary policy. However, weaker-than-expected U.S. retail sales data offset a boost to stocks from bank earnings. According to the analysis, the U.S. retail sales data slowed more than expected, indicating that consumption is shrinking rapidly. After the release of the data, the market has strengthened expectations for the Fed to raise interest rates. The latest forecast shows that the possibility of the Fed raising interest rates in May is nearly 90%.
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