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Rob Isbitts

Jamie Dimon Has Long Been Sounding the Economic Alarm. After the Fed’s Latest Rate Cut, Can You Still Bank on JPMorgan Stock?

JPM Jamie Dimon US Federal Reserve JPMorgan Rob Isbitts

Tuesday was not just the day before the Federal Reserve announced its latest rate cut. It was also the day that the leader of U.S. bank stocks dropped like a rock. 

JPMorgan (JPM) fell by 4.66% on the day, after the CEO of its Consumer & Community Banking unit startled traders by explaining that its expenses are likely to rise next year. The culprits: inflation and competition. The result? A lot of lost market cap.

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