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Economics

Citigroup’s Fraser, JPMorgan’s Dimon Warn of Economic Risks as They Head to Capitol Hill

  • Executives tout overdraft-fee reductions, other consumer help
  • Dimon says headwinds, tailwinds make predictions ‘challenging’
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JPM's Dimon: Higher Capital Requirements Are 'Bad for America'

The CEOs of the biggest US consumer banks are set to warn lawmakers that Americans are struggling amid surging inflation, as they brace for tough questions about how they’re helping customers being pummeled by rising prices.

The chief executive officers will testify before two congressional committees this week at a time when Americans face the highest levels of inflation in a generation and economists debate whether the US has entered a recession. The hearings start Wednesday as Federal Reserve officials meet to determine their next interest-rate move and release new economic projections.