Dimon: JPMorgan is sitting on about $500 million in cash, waiting to invest in higher rates
June 14, 2021 at 15:53 PM EDT
Banking giant JPMorgan is sitting on a near half-billion-dollar stockpile of cash, waiting to invest in higher rates in the coming months, instead of buying Treasurys or other securities, Chief Executive Jamie Dimon said Monday at a virtual banking conference.