SARINYAPINNGAM/iStock(NEW YORK) — If you’ve checked your 401(k) recently, you might have noticed that your account has taken a hit. But the same can’t be said for the country’s biggest banks.
In fact, Goldman Sachs, JPMorgan Chase, Morgan Stanley, Bank of America, Citigroup and Wells Fargo are about to close the books on their best year ever. The banks are heading toward making $100 billion in profits in 2019.
This is all happening while investors worry about interest rate hikes, a looming recession and a possible government shutdown.
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