JPMorgan Chase, Bank of America and Wells Fargo earnings show the good, the bad and the ugly of people's finances. So how are they holding up?

Friday’s wave of big-bank earnings gives an important glimpse into Americans’ finances amid high prices, rising interest rates and recession worries. At first glance, most consumers appear to be keeping their heads above water.

But there are tentative signs of a weakening economy: these balances are “drifting down,” CEO Brian Moynihan said on an earnings call discussing the bank’s fourth quarter profits, “but they still have plenty of cushion left.” “The U.S. economy currently remains strong with consumers still spending excess cash and businesses [are] healthy,” JPMorgan CEO Jamie Dimon said in a statement on the fourth-quarter earnings. What’s unknown, he added, is the ultimate toll of high inflation, diminished purchasing power and consequence of conflicts like Russia’s invasion of Ukraine.

Indeed, the earnings show the banks building up their stockpiles of money to brace for potential loan defaults on all sides of the business, including the ones from consumer loans and credit cards. We want to hear from readers who have stories to share about the effects of increasing costs and a changing economy. If you’d like to share your experience, write to readerstories@marketwatch.com. Please include your name and the best way to reach you. A reporter may be in touch.

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