People pass a sign for JPMorgan Chase at it’s headquarters in Manhattan, New York City.
Spencer Platt | Getty Images
Jamie Dimon said that in a “extremely adverse” downturn in the U.S. economy, JPMorgan Chase would probably consider suspending its dividend to preserve capital.
The biggest U.S. bank by assets has entered the coronavirus-induced crisis from a position of strength and has shown in previous Federal Reserve stress tests that it can weather a recession, Dimon said Monday in an annual shareholders letter. But if a more severe “extremely adverse scenario” happens with a 35% decline in gross domestic