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erienewsnow.com 14 Jan, 2022 14:30 am

Wall Street is minting money as Main Street struggles with inflation and burnout - Erie News Now

Wall Street is minting money as Main Street struggles with inflation and burnout - Erie News Now
By Paul R. La Monica, CNN Business

JPMorgan Chase posted strong results for the fourth quarter Friday, including a $10.Still, JPMorgan Chase's earnings were down 14% from the same quarter the previous year as trading revenue fell.Shares of JPMorgan Chase dipped more than 4% in premarket trading on the news." JPMorgan Chase and other big banks are benefiting from rising interest rates, which makes their loans more profitable — and an economy that has bounced back from the depths of the credit recession.

JPMorgan Chase also posted strong increases in advisory fees thanks to a booming environment for merger activity as well as strong demand for initial public offerings.JPMorgan Chase said that global investment banking fees rose 37% from a year ago.

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