Alex Ossola

I'm joined now by WSJ reporter Alexandra Saidi, who covers banking and finance.

Alex, I want to start with Diamond's comments about Fed Chair Jerome Powell and the Fed.

Central banks around the world, former Fed and Treasury officials, and several U.S.

lawmakers have spoken out this week defending Powell or expressing concern about the investigation into him.

How much does Diamond's comment reflect the broader feeling on Wall Street in particular?

shifting now to focus on what J.P.

Morgan's earnings tell us about the consumer.

On a call this morning, Diamond warned that there were big geopolitical risks, but overall, he was upbeat about the state of the economy.

Alex, what do J.P.

Morgan's numbers tell us?

That was WSJ reporter Alexander Saidi.

Thanks, Alex.

The latest government report on inflation shows that prices for goods and services rose 2.7 percent from a year ago in December.

That's holding steady from a month earlier and in line with economists' expectations, even with the turbulence from tariffs.

WSJ economics correspondent Harriet Torrey said these numbers probably don't do much to change the Fed's calculus.

Prices are still rising on a lot of things that are important to people, however, something that politicians have picked up on as they increasingly talk about affordability.

You heard us mention J.P.

Morgan's results earlier.

Its fourth quarter profit slipped, and while revenue grew, Wall Street expected more.

The bank's shares dropped 4.2 percent, weighing on the Dow, which closed down 0.8 percent.