Reported about 16 hours ago
Top Wall Street bank executives have expressed concerns about the potential negative effects of tariffs on consumer behavior and the U.S. economy. They noted an increase in cautious actions from corporate clients, such as slowing capital expenditures and hiring, amidst rising inflation rates. Despite these concerns, banks reported strong profits fueled by consumer spending and active trading. Executives anticipate a more cautious landscape as companies adapt to the new tariff environment, with many preparing contingency plans as they face uncertainty about price increases.
Source: YAHOO