Banks Feast on Higher Rates, for Now

Banks have been pocketing the extra money they have made from higher interest rates. Now investors will see if they built up enough for tougher times ahead.

JPMorgan Chase third-quarter net interest income, which is driven by both rising rates and growing loan books, was about a third higher than a year ago. Thanks in part to the Federal Reserve’s recent interest-rate increases, JPMorgan raised its 2022 forecast for net interest income revenue, excluding its volatile markets unit, to about $61.5 billion, up from $58 billion.

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