JPMorgan's President and Chief Operating Officer Daniel Pinto spoke on Friday ICYMI.
Said lending is slowing due to both supply and demand issues:
- "There is no doubt that regional banks and smaller banks are building up liquidity , building capital, so they are lending a bit less"
- "I don't think that the big banks have really changed their lending standards... there is not a huge amount of loan demand in the first place."
On the economy and Federal Reserve :
- consumption remains positive
- there are some indications the economy is slowing
- "Likely the Fed will get to run towards 5.5% and then they will pause" to assess inflation ... If inflation accelerates further, the Fed could raise rates 50 basis points with a series of smaller rate hikes
- will be a "recession at some point", but doesn't see a crisis, "It's just a slowdown in the economy"
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Next Fed dates i June 13 &14:
