JPMorgan Chase CEO Jamie Dimon at the company earnings call says:
- You should expect volatile markets as the Fed shrinks balance sheet
- Rate of buybacks is going to be less than in 2021
- He doesn't expect the US to have a recession this year
- War in Ukraine will have unpredictable outcomes, huge cloud on the horizon
- Will not use liquidity now to buy longer-term securities to boost interest income, given chances of hits to regulatory capital
Dimon has been cautious on the economy in comments before the earnings. The quarterly earnings showed lower than expected earnings-per-share $2.63 vs $2.70, but higher than expected revenues. His comment on reluctance to on a long-term securities seems to suggest expectations for rates may be higher along with regulatory concerns given the slower economy.