JPMorgan Chase Sees Economic Turmoil Brewing, but Few Signs of Recession So Far - The Wall Street Journal

The nation’s biggest bank set aside $428 million in the second quarter to cover potential future loan losses, a signal it has grown more dour on the U.S. economic outlook. The bank also said it was temporarily suspending stock buybacks to retain more capital.

The nations biggest bank said it sees little to no signs of a recession in its businesses. Its preparing for one anyway. In the second quarter, JPMorgan Chase & Co. customers continued spending … [+338 chars]

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