Economic news
JPMorgan raises prime rate after Fed’s interest rate move
2022.05.04 22:11
FILE PHOTO: A view of the exterior of the JP Morgan Chase & Co. corporate headquarters in New York City May 20, 2015. REUTERS/Mike Segar
(Reuters) – JPMorgan Chase & Co (NYSE:JPM) said on Wednesday it would raise its prime rate by 50 basis points to 4%, effective Thursday.
The decision comes after the U.S. Federal Reserve raised its overnight interest rate by half a percentage point, the biggest jump in 22 years.
