Major bank CEOs are concerned about the impact of Trump's tariffs on the economy

From Yahoo Finance: 2025-04-07 11:40:00

Global bank CEOs, including JPMorgan Chase and Bank of America, discussed the impact of Trump’s tariffs in a call convened by the Bank Policy Institute. Barclays and HSBC CEOs also attended, reflecting industry concern over economic consequences. Bank shares have plummeted since the tariffs were announced, with fears of weakened consumer spending and recession risks.

The KBW Bank index has fallen 15.2% since the tariffs, leading to concerns from financial leaders like JPMorgan CEO Jamie Dimon and investor Bill Ackman. Sky News reported details of the call, including Citigroup chief Jane Fraser’s presence. Spokespersons for the banks have not commented on the matter.

Read more: CEOs of top banks discussed fallout of Trump tariff, sources say