Banking and Financial Institutions – Page 24

JPMorgan’s Profit Jumps, but Interest Rates Remain a Threat

It was another quarter of banner financial results for the largest lender in America.

Central bankers and economists gathered and, amid concerns about persistent inflation, wondered about all the things they still don’t know.

The annual rate of inflation fell to 5.5 percent in June, compared with 6.1 percent the month before. But “core” inflation edged higher.

It has been an arduous process to get the financial system to stop relying on the tarnished interest-rate benchmark.

A study found that loan officers in Uganda, where information is scarce, were more likely to offer credit to heavier-looking people.