Tag Archives: JPM

Low-income families, who received the greatest percent gains of all families in the US, have higher cash balances now than before the pandemic, according to a new report from JPMorgan Chase. However, the report found, it may not be enough. “With each round of stimulus, low-income families saw the greatest percent gains in cash balances, but depleted those gains faster than high-income families,” authors Fiona Greig, Erica Deadman, and Tanya Sonthalia, wrote in the report. The COVID-19… Source link

The current national bout of low inventory represents an “unprecedented non-recessionary inventory collapse” for the last 20 years, a new report by JPMorgan found. “While non-manufacturing activity is now tracking a strong and steady recovery, the goods-producing sector has been buffeted by supply constraints alongside continued boomy gains in final demand,” the report noted. “The result has been a slump in inventories that, over the past two decades at least, looks to be unprecedented… Source link

Stimulus checks in, stimulus checks out. Consumers are wasting no time spending their stimulus checks, new data out of J.P. Morgan Chase shows. Over the past seven days ending March 19 as more Americans have received their checks, spending on Chase cards skyrocketed 23.9% (see chart below). That’s up sharply from growth rates under 10% from January right on up to the latest round of stimulus payments. Some of the largest gains have come at supermarkets (8.2% increase in the last seven days)… Source link

Quantum computing is quickly becoming more science than fiction, and Boehringer Ingelheim hopes to be out in front in bringing it to biopharma R&D. Through a new partnership with Google, the drugmaker hopes to harness its promised speeds and capabilities to simulate the body’s biological mechanics at the molecular level and help discover and design new treatments. The three-year pharmaceutical project is the first of its type for Google’s Quantum AI division, and will be co-led by… Source link