JPMorgan Says US Consumer Is Fine, Even as Recession Risk Grows

JPMorgan sees credit card charge-offs of about 3.6% this year.Photographer: Bing Guan/Bloomberg

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By Paige Smith and Max Abelson

April 11, 2025 at 11:22 AM EDT

The US consumer is doing OK — at least for now, according to America’s biggest bank.

JPMorgan Chase & Co. is expecting to charge off about 3.6% of its credit-card portfolio — the debt that the bank says won’t be paid back — just as it was at the end of last year.