JPMorgan Chase now sees the risk of the US and / or global economy going into recession this year, in a note released on Wednesday following data showing that US gross domestic product shrank by the first quarter of the year more than originally estimated.
“It makes sense to consider the risk of the US economy and / or the global economy slipping into recession this year,” said investment bank economists Bruce Kasman and Joseph Lipton, according to MarketWatch.
As they explain, “the growing concern about the shocks of persistent inflation is combined with the news of a more aggressive policy by the Fed and the deterioration of the climate, which essentially overturns our view of growth in the second half of 2022.”
Just a week ago, JPMorgan published its global markets outlook report, which showed that the investment bank’s financial analysis department did not anticipate a recession this year.
Source: Capital
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