The two largest lending institutions in the United States said on Friday that despite signs that higher inflation rates are stretching some lower-income Americans thin, American consumers maintained robust spending resilience in the third quarter.

JPMorgan Chase and Wells Fargo reported strong earnings, with optimistic remarks from their top executives that should further alleviate investors' concerns that rising borrowing costs are dragging down consumers and pushing the economy to the brink of recession, even as JPMorgan Chase increased provisions for soured loans.

JPMorgan Chase's stock price rose nearly 5% in the afternoon trading, while Wells Fargo's stock price increased by more than 6%.

As the largest lending institution in the United States and a barometer of the U.S. economy, JPMorgan Chase's Chief Financial Officer, Jeremy Barnum, said, "Overall, we believe that the consumer spending pattern is robust."

Weak employment market data has raised concerns that the Federal Reserve's interest rate hikes aimed at curbing inflation may push the United States into a recession or a "hard landing."

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However, Barnum said in an interview with analysts that the consumer spending pattern is "in line with the assertion of a solid consumer base and also with the core scenario of a strong labor market and the current economy 'not landing'."

Wells Fargo's Chief Financial Officer, Michael Santomassimo, told reporters that although consumer spending on credit and debit cards has slightly decreased compared to earlier this year, it remains "quite robust."

The bank reported that debit card purchases and transaction volumes increased by nearly 2% year-over-year, while credit card point-of-sale transactions increased by 10%. JPMorgan Chase's debit card and credit card sales volumes increased by 6% year-over-year.

The other two major consumer banks in the United States, Bank of America and Citigroup, will release their earnings reports next week, and retail sales data will also be released, providing a more comprehensive picture of the market. Some investors have said that Friday's earnings reports so far are a positive sign.

"In my view, JPMorgan Chase and Wells Fargo's interpretation of consumers is very healthy," said Dave Wagner, head of equities at Aptus Capital Advisors: "Consumer spending seems to be trending towards normalization rather than reduction, which is healthy for the overall economy."However, Santomassimo warned that the cumulative impact of rising inflation is stretching low-income consumers thin, and the bank is watching to see if this pattern will spread to high-income customers.

A survey by the University of Michigan on Friday showed that consumer sentiment also declined in October due to lingering dissatisfaction with high prices.

"Paul Nolte, a senior wealth advisor and market strategist at Murphy & Sylvest in Elmhurst, Illinois, said: 'If you look at the overall average, it looks good, but I think it is more influenced by high-income, high-net-worth consumers.

"For those lower-end consumers, the situation is a bit more difficult. We are seeing an increase in delinquent loans and auto loans. We see a decrease in savings and an increase in credit card balances," he added.

Both banks have set aside cash to deal with potential non-performing loans. JPMorgan Chase set aside $3.11 billion, a significant increase from the $1.38 billion set aside a year ago, mainly due to potential credit card loan losses. Meanwhile, Wells Fargo provisioned $1.07 billion, a slight decrease from the $1.2 billion a year earlier, but it noted that it has increased credit card loan provisions due to the rise in credit card loan balances.