JPMorgan raises prime rate after Fed’s interest rate move

05/04/2022

Less than a minute

2022.05.04 22:11

JPMorgan raises prime rate after Fed's interest rate move
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.

05/04/2022

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