:max_bytes(150000):strip_icc()/GettyImages-2204125797-b5b7dc2c0f384f85837b43e9d126c622.jpg?w=1920&resize=1920,1267&ssl=1 "Here’s What Big Bank CEOs Are Saying About Tariffs and the Economy")
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key takeaways
- Banking industry officials gave their views on the stock market dominating tariffs and current uncertainty and instability.
- Jamie Dimon, CEO of JP Morgan Chase, said that he hoped that many companies would adjust or draw their entire year approach given uncertainty.
- Blackrock CEO Larry Fink said the tariff “went beyond anything that I had imagined.”
Banking industry officials on Friday talked about the uncertainty about the tariff, stock market and the possibility of recession of the Trump administration.
JP Morgan Chase (JPM) CEO Jamie Dimon said that he hoped to suspend his full year’s guidance amid uncertainty, some Delta Air Lines (DAL) and Carmax (KMX) did this week.
“You are going to hear the reports of 1,000 companies, and they are going to tell you what their guidance is. My guess (is) will remove it a lot,” Dimon said. “They are going to tell you what they think it can do for their customers, their base, their earnings, their cost, their tariff. It is different for every company, but I think you see it.”
Blackrock’s Fink says that the tariffs went beyond anything that I had imagined, ‘
Larry Fink, CEO of Blackrock (BLK), said in Friday’s earnings that the tariff declaration of the last week “according to a transcript from alphsons,” My 49 years could be imagined in my 49 years. ,
Fink also said that despite the uncertainty around the tariff, despite dominating the headlines, other “macro forces” such as artificial intelligence, increasing demand for energy and infrastructure, and de-regulations under the Trump administration “is just strong as today” as they were earlier this year.
Wales Fargo CEO CEOs ‘Risk’ with Tariff
“We support the administration’s will for the United States to see obstacles for fair trade for the United States, although there are definitely risks associated with such important tasks,” Wales Fargo (WFC) CEO CHO Charlie Sharf said in Friday’s earnings. Scharf stated that the bank hopes “constant instability and uncertainty and a slow economic environment in 2025, but real results will depend on the results and time of policy changes.”
Robin Vince, CEO of Bank of New York Melon (BK), said the firm “is ready for a wide range of macroeconomic and market scenarios as the approach to the operating environment is becoming more uncertain.”
