Reported about 9 hours ago
JPMorgan CEO Jamie Dimon has expressed concerns about potential weaknesses in the financial system, referring to recent bankruptcies in the subprime auto loan market as 'cockroaches', indicating that more issues may be lurking. Despite these warnings, Federal Reserve Chair Jerome Powell downplayed the significance, stating he does not view the situation as a broader credit problem. While financial disclosures from various banks have caused some fluctuations in investor confidence, the overall assessment of credit quality remains stable.
Source: YAHOO