Jamie Dimon warned of 'cockroaches' in the financial system. Fed Chair Powell doesn't see a 'broader' problem.
Update: 2025-10-30
Description
JPMorgan's Jamie Dimon warns of subprime auto loan troubles, causing ripples in the banking sector. European banks also report significant losses. Despite initial investor jitters, market sentiment calms as Q3 earnings show solid credit quality. Fed Chair Jerome Powell reassures, but keeps a close watch on the subprime auto loan market. Meanwhile, the Fed lowers interest rates to manage a slowing economy, with bank CEOs reporting healthy balance sheets and no imminent economic slowdown. However, analysts and ratings agencies remain vigilant over loans to non-bank financial institutions, a sector with rapid growth and potential risks.
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