JPMorgan Chase & Co. and Wells Fargo & Co. posted fourth-quarter earnings that were roiled by the recent tax overhaul but forecast the changes would bolster future profits and stoke the broader U.S. economy. JPMorgan, the biggest U.S. bank by assets, said a $2.4 billion charge related to the recently enacted tax law caused its profit to fall 37% from a year earlier to $4.23 billion. Even so, Chief Executive James Dimon said the tax law enacted late last year was “a big, significant positive and much of it will fall...

Source: Wall Street Journal January 12, 2018 20:49 UTC