JPMorgan CEO Jamie Dimon says “powerful forces” are threatening the US economy

JPMorgan Chase & Co.’s pandemic boom ended with earnings down 42% and a warning: Rising inflation and the war in Ukraine pose major threats to the US economy.

Chief Executive Jamie Dimon said the economy is strong and growing, citing double-digit growth in card spending, low arrears and healthy household and consumer balance sheets. But the bank surprised Wall Street by committing $900 million in new funds to prepare for economic turmoil; A year ago it freed $5.2 billion it had set aside for potential loan losses in the early months of the pandemic.