JPMorgan unleashes $1. 5T push for US critical minerals

JPMorganChase (NYSE: JPM) plans to channel $1. 5 trillion into industries vital to US economic security over the next decade, including critical minerals, advanced manufacturing and defence technology, as Washington seeks to reduce dependence on foreign supply chains. The Security and Resiliency Initiative includes up to $10 billion in direct equity and venture capital investments in selected companies, primarily in the US, to accelerate innovation and domestic manufacturing, the bank said in a statement. JPMorgan had previously planned to facilitate and finance about $1 trillion in these sectors over 10 years but now aims to increase that commitment by as much as 50%.