As banks post blowout earnings, CEOs reckon with America’s inequality gap

Good morning. Bankers understand money and the consequences for those who don’t have enough of it. The top 0.1% of U.S. households now account for almost six times as much of the country’s wealth as the bottom half, according to Federal Reserve data. Jamie Dimon of JPMorgan Chase sees it, telling a reporter that anti-rich sentiment is surging because “we have, in fact, left the lower-income folks behind.” (JPMorgan just reported its best-ever quarter, as did Goldman Sachs and many others.) While resilience was the catch phrase of the first quarter among bank CEOs, the latest blowout quarter may be prompting a bit of soul-searching. Wells Fargo CEO Charlie Scharf shared concerns about affordability while reporting a 17% profit jump. At a gathering about a month ago, one C-suite leader in fi