Tag Archives: hike

Fed rate hike should lift trading activity in 2016 -JPMorgan CFO

JPM.N) Chief Economic Officer Marianne Lake said on Tuesday at an investor conference.

Markets likely will not see the impact of higher prices until right after the fourth quarter this year, Lake stated, speaking at the Goldman Sachs U.S. Financial Services Conference.

Lake added that prices were the most important factor that could drive up the bank’s revenue subsequent year, growing loan growth as nicely as net interest earnings.

The Fed is broadly expected to raise rates by 25 basis points subsequent week.

Wall Street more than the final few quarters has struggled with plunging bond trading revenue, specifically on the fixed income side, amid international financial turmoil and interest rates close to zero.

Wells Fargo & Co (WFC.N) Chief Executive Officer John Stumpf, who also spoke at the conference, mentioned that consumer self-assurance, not rates, was important to restoring faith in the U.S. economy.

(Reporting by Olivia Oran Additional reporting by Dan Freed Editing by James Dalgleish)