{
  "id": 14232284,
  "title": "JPMorgan, Goldman Sachs, Citigroup and Wells Fargo post strong profits, but warn rising interest rates and ‘sticky inflation’ will bite",
  "url": "https://urgent.news/2026/10/13/jpmorgan-goldman-sachs-citigroup-and-wells-fargo-post-strong-profits",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-13T15:09:28.000Z",
  "source": {
    "name": "Fortune",
    "slug": "fortune",
    "url": "https://fortune.com/2026/10/13/jpmorgan-goldman-sachs-citigroup-wells-fargo-interest-inflation/"
  },
  "original_language": "en",
  "account": "Major Wall Street banks, JPMorgan Chase, Citigroup, Wells Fargo, and Goldman Sachs, reported robust profits in the third quarter of this year, despite the lingering effects of higher interest rates and inflation. JPMorgan Chase posted a $15.3 billion profit, or $5.57 per share, slightly below analysts' estimates of $5.93 per share. CEO Jamie Dimon attributed the strong performance to a combination of business investment and consumer spending, but also noted that persistent fiscal deficits, high inflation, elevated asset prices, rising interest rates, and geopolitical concerns continue to shape the economic landscape.\n\nGoldman Sachs reported higher profits, driven by increased stock-trading revenue, posting a profit of $5.29 billion, or $17.01 per share, compared to $4.1 billion, or $12.25 per share, a year earlier. Citigroup also met or exceeded expectations, with a 40% jump in profits, while Wells Fargo's earnings surpassed forecasts, benefiting from the removal of the asset cap imposed due to past sales practices scandals. Despite the strong profits, all four banks warned of the long-term impact of higher interest rates and the challenges of sticky inflation, should policymakers fail to bring prices under control.",
  "summary": "Wall Street’s biggest banks reported a strong Q3 as businesses keep pouring money into AI and consumers face higher prices",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "Quartz",
        "title": "Wells Fargo earned $5.95 billion in Q3 as loan losses stayed low",
        "url": "https://urgent.news/2026/10/13/wells-fargo-earned-5-95-billion-in-q3-as-loan-losses-stayed-low",
        "published": "2026-10-13T12:20:25.000Z"
      },
      {
        "outlet": "Investing.com",
        "title": "Earnings call transcript: Wells Fargo tops Q3 2026 EPS forecast, revenue misses",
        "url": "https://urgent.news/2026/10/13/earnings-call-transcript-wells-fargo-tops-q3-2026-eps-forecast",
        "published": "2026-10-13T15:42:37.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}