Bob Michele, Managing Director and Chief Investment Officer at JPMorgan’s Global Fixed Income, Currency & Commodities (GFICC) group, has warned that the stock market’s current resurgence after interest rate hikes and bank failures may not be a good sign, comparing it to a deceptive lull during the 2008 financial crisis. Michele noted that during both …
Attorneys representing a victim of Jeffrey Epstein are seeking to resume testimony from JPMorgan Chase CEO Jamie Dimon and other bank executives as part of a lawsuit alleging that the bank facilitated Epstein’s sex trafficking activities. The lawyers claim that JPMorgan has sought to hinder the case by withholding documents. The accuser, known only as …
Financial experts predict that the Federal Reserve will temporarily halt its aggressive interest rate increases in its upcoming meeting. However, consumers are unlikely to see any relief, even with the pause. The central bank has implemented 10 interest rate hikes since last year, the fastest it has done so since the 1980s. Unfortunately, inflation has …
WASHINGTON — Given the overall environment in the industry, it’s likely for some smaller banks to consolidate, Treasury Secretary Janet Yellen said Wednesday morning. “There is motivation to see some consolidation and it wouldn’t surprise me to see some of that going forward,” Yellen said in an interview on CNBC’s “Squawk Box.” Yellen said she wouldn’t …