JPMorgan Chase and Citigroup struck an upbeat tone on the strength of US consumers, underscoring how the world’s biggest economy has remained resilient despite the effects of Donald Trump’s tariffs.
The duo of Wall Street banks said there were signs that Americans’ financial footing was solid even as they contend with persistently elevated prices, high interest rates and broader economic uncertainty.
“The strength of the US economy, driven by the American entrepreneur and a healthy consumer, has certainly been exceeding expectations of late,” said Citi chief executive Jane Fraser.
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