Comments from the JPM leader.
- SVB did a lot of things on the micro level in terms of customer service
- In every app and every database, you will be applying AI
- The consumer is still in good shape, they still have more money than before covid
- Credit is not deteriorating
- Worried about two storm clouds: 1) Fiscal spending is highest in peacetime ever; we’ve never had QT before and he’s not sure sure it will be insignificant 2) All the longer-term metrics around demographics and green transition are inflationary
- I’m not predicting, I’m just saying be prepared for it
- JPM can handle 2%, it can handle 7%