Major US Banks See Profits Rise With Interest Rates But Caution Looms Over Slowing Economy

Major US banks like JPMorgan, Citi, Wells Fargo saw profit boost from higher interest rates, but see signs of slowing economy and caution from consumers.

Banks reporting higher net interest income but lower average deposits and slowing loan growth.

Some banks like JPMorgan revised economic outlook to modest growth rather than mild recession.

Bank stocks rose on relief that outlook not as bad as feared, with bank index up.

Regional differences seen, with PNC reporting higher delinquencies and decline in net interest income.