JPMorgan Chase earnings show economy resilient, but Jamie Dimon ‘hurricane’ looms

The country’s biggest banks fear a recession, but their third-quarter earnings still showed little sign of it.

JP Morgan Chase & Co., Wells Fargo & Co. and Citigroup all said on Friday that they had pocketed hundreds of millions of dollars each to cover possible defaults, driving down their profits. Still, revenue rose at all three banks and beat analysts’ forecasts.