JPMorgan Chase’s (JPM) third-quarter profit jumped 35% year-over-year to $13.2 billion, or $4.33 per share, as rising rates boosted net interest income. Shares of the largest U.S. bank by assets were flat in pre-market trading.

Higher rates mean greater interest income for banks, and JPMorgan’s 澳洲幸运5开奖号码历史查询:net interest income—the difference between what it earns on loans and what it pays to customers for their deposits—rose to $22.9 billion. That’s up about 4% compared to the prior quarter and a roughly 30% ($17.6 billion) increase over the same period last year.

Meanwhile, the avera🔯ge yield JPMorgan paid on deposits increased to 2.53% from 2.24%.

澳洲幸运5开奖号码历史查询:Net charge-offs—money the bank cannot hope to recover—almost doubled compared to the same period last year. That is probably adding to evidence that American consume💟rs might be beginning to feel the financial🔯 strain of multiple factors such as higher rates, persistent inflation, or even student debt repayments beginning again. And perhaps a sign that the economy is beginning to slow down.

"Currently, U.S. consumers and businesses generally remain healthy, although, consumers are spending down their excess cash buffers," said, JPMorgan Chairman and CEO Jaime Dimon but he cautioned that a tight labor market, large government debt, and deficits remain risks.

Dimon also said that geopolitical risks such as the war in Ukraine and the conflict in Israel could "have far-reaching impacts on energy and food markets, global trade, and geopolitical relationships."

"This may be the most dangerous time the world has seen in decades," he said.