JPMorgan Chase profits jump, warns inflation could persist
NEW YORK: JPMorgan Chase reported another highly profitable quarter Friday, but warned inflation could persist and said recent Middle East turmoil means this "may be the most dangerous time the world has seen in decades."The lender, the biggest US bank in terms of assets, reported third-quarter profits of $13.2 billion, up 35 percent from the year-ago period behind the lift from higher interest rates on earnings.Revenues rose 22 percent to $39.9 billion. Besides the boost from interest rates -- reflecting the gap between the lending rate it charges clients compared with interest payments to customers -- JPMorgan also cited good credit quality as a driver.Throughout the Covid-19 period and in the immediate aftermath, consumers have largely successfully managed credit card payments, althoug...