Better Buy: JPMorgan Chase vs. Citigroup
The past month has been a tough one for financial companies. While the Federal Reserve has taken extraordinary measures to support the stalled economy that was created as part of efforts to halt the spread of the coronavirus pandemic. Real estate investment trusts (REITs) and banks have been thrown overboard as the economy jerks to a halt. What does this mean for two of the biggest banks in the United States?
JPMorgan Chase (NYSE: JPM) and Citigroup (NYSE: C) are what used to be referred to as the "money center banks," which were the big Manhattan banks that served the biggest blue-chip clients. Both entered 2020 enjoying a benign economic environment with low interest rates and multi-decade lows in defaults. Now that the COVID-19 pandemic has taken control of the economy, how does that change things? And which big bank is better equipped to handle such a crisis?
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Source Fool.com
