We are deeply saddened by the recent terrorist actions of Hamas and the tragic loss of innocent life. Our hearts go out to all who are impacted.
President Daniel Pinto of JP Morgan Chase & Co. spoke about the vulnerability of the robust U.S. economy to political and economic risks. He noted that while consumers and businesses are strong, with high levels of savings and robust finances, issues such as persistent high inflation and elevated or still-increasing interest rates would create additional stress. Pinto also noted how a string of geopolitical risks, including the Russian invasion of Ukraine, the Hamas attack on Israel, and issues surrounding the US/China relationship, could trigger a deterioration of the economy (Bloomberg)