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JPMorgan Gets One More Boost Off Rate Hikes Before Fed Pause

  • Bank’s net interest income rises to a record $14.5 billion
  • Trading revenue declines 17% as stock, bond results worsen
Trading On The Floor Of The NYSE As U.S. Stocks Head to Eight-Month Low While Pound Falls
Photographer: Michael Nagle/Bloomberg
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The Fed may have stopped raising borrowing costs for now, but the biggest U.S. bank is still reaping benefits from higher interest rates.

JPMorgan Chase & Co. said net interest income -- revenue from customers’ loan payments minus what the bank pays depositors -- jumped to $14.5 billion in the first quarter, a record aided by the Federal Reserve’s four interest-rate increases in 2018. The bank’s net interest margin jumped to the highest in seven years.