According to a Reuters report, JPMorgan CEO Jamie Dimon is being deposed over the bank's relationship with sex offender Jeffrey Epstein. A lawyer representing the women who claim Epstein sexually abused them said the deposition is expected in early May. The women are suing the bank for allegedly facilitating Epstein's sex trafficking.
Chair Jerome Powell says the Federal Reserve only expects to cut rates once in 2024. But at least, as one economist says, ‘rate hikes are off the table.’
With the Fed likely set to leave rates unchanged, lower and middle income Americans will continue dealing with higher credit card interest and expenses.
Markets soared in May after Nvidia’s Q1 success, but concerns over slowing consumer spending, especially among middle—and lower-income groups, loom large.
