Fresh off a record year for profit and revenue, JPMorgan is facing questions over what CFO Jeremy Barnum admitted was excess capital.

JPMorgan Chase & Co.'s Chief Executive Jamie Dimon said the U.S. economy remains "resilient" but he remains wary of inflation and uncertain geopolitics. "Unemployment remains relatively low, and consumer spending stayed healthy,

CEO Jamie Dimon has stated that his "base case" for stepping away as chief executive is still several years away. The major bank touts record annual profits of $58 billion for 2024 in its latest earnings results.

Big bank profits surged in the fourth quarter and Wall Street roared back to life, with net income rising 50% at JPMorgan Chase and more than doubling at Goldman Sachs.

The bank said profit rose 50% to $14 billion in the fourth quarter as noninterest expenses fell 7% from a year earlier.

JPMorgan, Wells Fargo, Goldman Sachs and Citi kicked off earnings season on Wednesday with their December-quarter results.