JPMorgan, Citi profits improve amid signs of recovery
October 14, 2020
CHARLOTTE, N.C. (AP) — Two of the nation's biggest banks — JPMorgan Chase and Citigroup — said Tuesday that their profits improved markedly over the summer, as the U.S. economy tried to bounce back from the coronavirus shutdowns that were imposed earlier this year.
Even so, both New York banks warned that much uncertainty remains about where the U.S. economy is headed, and top bank executives bluntly said there is a need for another economic stimulus package to keep the economy from slipping into recession again.
"A good, well-designed stimulus package will simply increase the chanc...