Michael Cleary
Michael Cleary
banking generally investment retail volatility
You're going to always have volatility in investment banking earnings. But retail generally will be more consistent.
action determination report seen shows suspect
I suspect that this report shows more determination to take action than we have seen in the past.
basics chase children consumers depleted disposable future help income negative personal rate resulting reverse savings soon spent teach time trend understand wants
In 2005, American consumers spent all their disposable income and also depleted their savings, resulting in a negative personal savings rate for the first time in decades. Chase wants to help reverse this trend for future generations. One important way to do that is to teach children about saving as soon as they are old enough to understand the basics of money.
decisions undo
There are some decisions made historically that we would undo if we could.