A Wall Street boom fueled record profits for JPMorgan Chase in 2021: The company delivered $48.3 billion in earnings for the year, as fees from mergers and acquisitions and trading revenue swelled the bank’s margins. That said, the megabank’s leadership has signaled that the party could be winding down. CEO Jamie Dimon said in April 2022 that the global economy was facing “unprecedented” risks, warning that factors such as the war in Ukraine and high inflation could possibly lead to recession. In February 2022, JPMorgan Chase became the first commercial bank to enter the metaverse, setting up a virtual shop in the Metajuku mall. In the real-world workplace, the bank has been less bullish about virtual interaction, with Dimon urging reluctant employees to return full-time to the office.
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