Some of the biggest financial firms in the United States are bracing for a deteriorating economy next year as high inflation curtails consumer demand. Among the major banks, Bank of America BAC was down 4.3%, followed by Morgan Stanley MS and Goldman Sachs GS, which lost 2.7% and 2.3%, respectively. The biggest U.S. bank (in terms of assets and market cap), JPMorgan JPM CEO, Jamie Dimon, in an interview with CNBC, noted that consumers and businesses are in good shape but this isn’t going to last long as the economy gradually slows down and inflation hurts consumer spending.