Reported 3 days ago
Amid President Trump's tariff challenges, major U.S. banks are reporting increased profits and highlighting strong consumer spending, with collective profits reaching $35 billion in the first quarter. Although some executives acknowledge the potential for recession, optimism prevails, as many banks maintain stable earnings outlooks and describe current uncertainties as temporary rather than severe. However, preparations for possible economic downturns are evident, as banks increase provisions for potential loan losses.
Source: YAHOO