The biggest U.S. bank by assets showed that its core business was thriving as net interest income surged almost 50% from a year ago.
experienced fatal bank runs. But the industry has been forced to pay up for deposits as customers shift holdings into higher-yielding instruments like money market funds.
Another key question will be whether JPMorgan and others are tightening lending standards ahead of an expected U.S. recession, which could constrict economic growth this year by making it harder for consumers and businesses to borrow money.
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