Jamie Dimon delivered an almost upbeat message on the US economy on Monday: Recession worries and inflation were storm clouds that could blow away, not the kind of hurricane that struck in 2008.
But attendees at JPMorgan Chase & Co.’s investor day weren’t there to hear the chief executive officer discuss that, even if the message did boost the stock by 6% on Monday. What they wanted was to understand the bank’s big hike in costs. Its investment budget for this year is $14.7 billion, up one-third from 2021. It includes a 20% jump in technology spending to $6.7 billion.