It was not all bad news though. Dimon touted strong results from JPMorgan Chase’s consumer and community banking, mortgage banking and credit card units.
During a conference call with reporters, Dimon added that he thinks the U.S. economy is improving and that the Federal Reserve would likely raise interest rates this summer as a result. He said this would not be a bad thing and that the bank is positioned well for a gradual increase in rates.
But investors are most concerned about the bank’s Wall Street operations — trading and investment banking.
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