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WSJ What’s News

What’s Behind a Red-Hot Quarter for Bank Earnings

WSJ What’s News

The Wall Street Journal

Daily News, News

4.14.2K Ratings

🗓️ 14 July 2026

⏱️ 12 minutes

🧾️ Download transcript

Summary

P.M. Edition for July 14. Big U.S. banks like JPMorgan Chase, Goldman Sachs, and Bank of America reported soaring profits in the second quarter. But can the party continue? We hear from Gina Heeb, who covers banks for the Journal. Plus, inflation cooled to 3.5% last month. WSJ economics reporter Matt Grossman talks about what’s driving prices lower, and what’s expected later this summer. And ICE is suspending traffic stops after two fatal shootings in the past week. Alex Ossola hosts. Sign up for the WSJ's free What's News newsletter.

Transcript

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0:00.0

Access to affordable credit helps me pay my employees, but I don't really need it.

0:05.0

Infliction is killing me!

0:08.0

But who cares? Big retailers are making record profits!

0:12.0

That's why we support the Durban Marshall Credit Card Bill!

0:15.0

See? Banks and credit unions help small businesses make payroll.

0:18.0

This bill would cut the vital resources they need.

0:25.1

While increasing megastore profits, they deserve it. Don't they?

0:29.9

Tell Congress, stop the Durban Marshall money grab for corporate megastores. Paid for by the Electronic Payments Coalition.

0:35.3

Inflation cooled last month, offering some relief to Americans, but don't count on it to last.

0:41.0

Plus, big banks raked in soaring profits last quarter.

0:44.4

We're in a very healthy act of exuber and market, but very high prices and very high volumes, we benefit from that.

0:51.3

You just don't know how long it will continue.

0:54.0

And a T-Rex named Gus just

0:56.0

became the world's most expensive dinosaur. It's Tuesday, July 14th. I'm Alex O'Sullough for the

1:02.3

Wall Street Journal. This is the PM edition of What's News, the top headlines and business

1:07.2

stories that move the world today.

1:17.3

New data out today show that consumer prices were up 3.5% last month from a year earlier,

1:21.4

beating analyst expectations and giving Americans a bit of a break on inflation.

1:23.8

Prices rose somewhat more in May.

1:26.0

They were up 4.2% that month. The news came as Fed Chairman Kevin Warsh testified before Congress

1:29.8

today, telling lawmakers that the central bank won't tolerate high inflation. There might be some

1:35.0

that look at this morning's data and say, oh, mission accomplished, everything is swell. That is not my

...

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