| Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours. Sign up here to get the best of Business Insider delivered direct to your inbox. JPMorgan Chase's giant corporate and investment bank — the undisputed leader on Wall Street — is beefing up risk management and hewing conservative ahead of what it anticipates will be a painful market correction in the near future. The amount of complacency in the markets is triggering red flags for Daniel Pinto, the head of JPMorgan Chase's investment bank, who recently met with research analysts from Keefe, Bruyette, and Woods. Volatility has been hovering near record lows, with markets remaining abnormally calm even in the face of turbulent geopolitical events, such as the US's escalated tensions with North Korea. One significant risk that could turn all that upside down, according to Pinto, is inflation. You can read more about what he had to say here. President Donald Trump looks set to appoint Jerome Powell, a former private-equity executive at Carlyle Group who now sits on the Federal Reserve board, as the next Fed chair. Here's everything you need to know about Powell, courtesy of Business Insider's Fed watcher, Pedro da Costa. In finance news, CME Group, the biggest exchange group in the world, is unexpectedly gatecrashing the bitcoin business. The CEO of investment startup Acorns wants his app to be used by every American with a household income under $100,000. And Elevate, a lender targeting the "New Middle Class," is working to hand out higher credit limits to struggling Americans. In deal news, Sprint and T-Mobile shares dropped after Nikkei reported that SoftBank Group planned to end negotiations for a merger of the two wireless carriers. And Rockwell Automation spiked after receiving a $27.5 billion buyout offer. In other business news, a lawsuit over price fixing by drugmakers is being massively expanded and shares of Mylan are plunging. And Under Armour slashed its forecast for the rest of the year. Lastly, Business Insider's Steve Kovach has been using the iPhone X for 18 hours, and he's already sold. | 
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