U.S. Banking Giants Navigate Turbulent Tariff Waters with Optimism

U.S. banking leaders assert that consumers remain financially robust, even as President Trump's tariff policies disrupt market stability, yet they caution about looming vulnerabilities.

JPMorgan, Citigroup, and Wells Fargo all reported second-quarter profits surpassing analysts' expectations, driven by a surge in dealmaking and resilient consumer spending.

Despite positive economic indicators such as low unemployment and controlled inflation, banking executives voice concerns over potential tariff-related consumer spending challenges, highlighted by rising consumer prices in June.

(With inputs from agencies.)