JPMorgan Chase stashed away hundreds of millions of dollars in cash amid growing fears that the U.S. economy will enter a recession, The Wall Street Journal reported.
JPMorgan Chase put aside $900 million in cash in preparation for an economic downturn, The Wall Street Journal reported. JPMorgan chief executive officer Jamie Dimon has increasingly warned that the Federal Reserve has been behind the curve fighting inflation and their efforts will bring the U.S. economy into a recession around the fourth quarter of 2022.
JPMorgan Chase chief executive Jamie Dimon told President Joe Biden he needs to produce a “Marshall Plan” to increase domestic energy production, Axios reported.
Dimon met with Biden on Monday, urging him to make plans for the government to increase domestic gas and other energy sources to offset soaring prices resulting from Russia’s invasion of Ukraine, Axios reported. Dimon reportedly informed the president and his top economic advisors that additional domestic energy production is necessary for securing both American and European energy security.
Federal regulators hit the largest bank in the U.S. with a $200 million fine Friday for failing to keep track of employees’ use of messaging apps, including WhatsApp, to evade federal record-keeping laws.
The Securities and Exchange Commission (SEC) announced Friday that a subsidiary of JPMorgan Chase & Co. would pay $125 million after admitting to “widespread” record-keeping failures. The bank will pay an additional $75 million fine to the Commodity Futures Trading Commission for allowing unapproved communications since 2015.
America’s largest bank, JPMorgan Chase & Co., told unvaccinated employees at the Manhattan offices that they must remain at home and work remotely, multiple sources reported.
Tuesday’s new rule allows only vaccinated employees and visitors to enter the bank’s Manhattan offices, a JPMorgan spokesperson told the Daily Caller News Foundation. Maks will be required when walking through lobbies, using elevators and in the company restaurants when not eating.
JPMorgan Chase chief executive Jamie Dimon apologized Wednesday for saying that the bank will last longer than the Chinese Communist Party, multiple sources reported.
Dimon said that he regrets the joke he made Tuesday morning while speaking at an event at Boston College, according to The Wall Street Journal.