JPMorgan is expecting net interest income, excluding markets revenue, of around $88B in 2024, down from $94B in 2023 on the assumption that the Federal Reserve will cut rates six times during the year. The expected cuts come after the Fed hiked rates, hoping to cool rapid inflation. Including markets revenue, the figure is expected to drop to $90B from $97B, reflecting an $8B pullback from rate cuts, deposit repricing and internal migration offset by $1.5B in loan growth, including continuing growth in crest card revolving balances, along with modest deposit attrition.