JPMorgan Chase

This time almost no one is questioning the industry's ability to ride out whatever is coming.

Experts say transaction growth is OK now, but the next year will be fraught with risk.

The chief executives at four of the nation's largest banks weighed in on what evolving trade policies mean for their businesses and the U.S. economy. "I think you have to be a little bit pessimistic here," said Bank of New York Mellon CEO Robin Vince.

The JPMorgan Chase CEO said Friday that recent turmoil in the bond market highlights the need for more capital and liquidity flexibility.

The first three months of the year coincide with the start of President Donald Trump's second term in office. Investors are likely to be more interested in banks' outlooks amid swings in tariff policy than the first-quarter results.

JPMorgan Chase, Bank of America, Citigroup, Goldman Sachs Group and Morgan Stanley are projected to post a combined $34.8 billion haul from their trading businesses in the first quarter, the most for that period in at least seven years.

JPMorgan Chase's CEO emphasized his concerns about geopolitical conflict and brought up recent culture shifts at the bank in his annual letter to shareholders.

"The quicker this issue is resolved, the better because some of the negative effects increase cumulatively over time and would be hard to reverse," the JPMorgan Chase & Co. CEO wrote in his annual letter to shareholders.

Javice sold her student-aid startup, Frank, to JPMorgan in 2021. Two years later, the bank accused her of creating fake profiles to boost the number of customers.

The largest U.S. bank will now call the initiative Diversity, Opportunity & Inclusion, or DOI, Chief Operating Officer Jenn Piepzak said in a memo to staff Friday.