By Liz Moyer

Investing.com — JPMorgan Chase & Co (NYSE:) shares jumped more than 7% and helped lead financials higher on Monday after a positive outlook despite inflation and economic uncertainty.

Monday’s presentation by the bank to investors confirmed its 17% forecast of tangible common equity returning this year. The bank also increased its net interest income forecast this year. This is a benefit when interest rates rise. The bank now forecasts that it will rise to $56 billion in 2022. That’s more than its $50 billion prediction earlier in the year.

Executives stated that the economy is strong, despite macroeconomic difficulties. CEO Jamie Dimon described it as a “strong economy, big storm clouds,” adding that those clouds “may dissipate.”

Citigroup Inc shares rose 7% while Bank of America Corp shares rose 6%

JPMorgan earlier in the year suggested that reaching 17% returns may prove difficult. Dimon however stated Monday that favorable credit conditions could make it possible.

Because of rising rates of lending and the growth of lending, net interest income could exceed $20 billion in the final three months of this year.

The bank stated that expenses would remain the same as in previous guidance, at $77 billion.