JPMorgan's Middle-Market Clients are Still Doing Okay, CFO Says

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Yesterday

1121 ET - Jeremy Barnum, finance chief of JPMorgan Chase, says people are worried about others, while feeling fine themselves. "We run these surveys and they're always like, 'Oh, I'm worried about this. I'm worried about that,'" he says on a call with analysts. But when asked how they're feeling themselves, most people respond that they're doing great. "It's kind of an interesting dynamic there," Barnum says. Still, there's no question that higher interest rates and sticky inflation are putting pressure on middle-market clients. "We see them trying to manage that to the best of their ability, and I think it does create a little bit of caution in that space," Barnum says. "But I think balance sheets are strong, people have been through a lot over the last few years and so they're well prepared."

 

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