Banking Giants Say Consumer Spending Remains Resilient Despite Inflation

America’s biggest banks say consumers are still spending in spite of inflation.As Reuters reported Friday (Oct. 11), earnings from two of the country’s biggest banks — and optimistic commentary from their executives — could make investors less worried that high borrowing costs were pressuring consumers and leading to a possible downturn.“Overall, we see the spending patterns as being sort of solid,” said Jeremy Barnum, chief financial officer of JPMorgan, who added that spending patterns had returned to nor ...