Ups and Downs

JPMorgan Chase is calling it on behalf of Uncle Sam: the U.S. economy has made a soft landing.

On Friday, the country’s biggest bank reported better-than-expected earnings and optimistic forecasts, saying it’s seeing a “Goldilocks economic situation” where consumers continue to spend, businesses act confidently, and inflation is under control. Wells Fargo largely echoed the sentiment but noted it sees businesses acting more cautiously.

Despite JPMorgan’s rising tide, some ships feel like they’re sinking.

Boeing’s machinist strike is entering its fifth week, as the company announced plans to cut 10% of its workforce (about 17,000 people) and delay the launch of its new 777X wide-body planes, citing development issues. Meanwhile, TD Bank pleaded guilty to making itself the go-to bank for money laundering and has agreed to pay a historic $3 billion fine.

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ETERNAL PERSPECTIVE
Regardless of whether the broader economy is struggling or thriving, Christians should seek to give generously of our time, talents, and resources to those in greater need. Reach out to your local church to see where help is needed.

“Don’t neglect to do what is good and to share, for God is pleased with such sacrifices.” Hebrews 13:16 (CSB) (read full passage)