Jamie Dimon shared his annual report for JP Morgan shareholders today, and it has a number of interesting comments.
on the economy…
“We are prepared for potentially higher interest rates, and we may have higher inflation for longer.”
on recent bank failures…
“the stress testing based on the scenario devised by the Federal Reserve Board (the Fed) never incorporated interest rates at higher levels.”
“As I write this letter, the current crisis is not yet over, and even when it is behind us, there will be repercussions from it for years to come.”
I, like many Bitcoiners, am no fan of banking, but I found this report to be pretty enlightening.
Full report can be found here.