JPMorgan Chase sees 60 % of the global recession this year amid “annoying American policies”: report
According to what was reported, the JPMorgan Chase gave a 60 % chance of global recession this year due to “sabotage” policies in the United States.
According to a new a report Posted by Reuters, JPMorgan raises the possibility of global recession from 40 % to 60 % due to new American trade policies, which includes customs tariffs on China and the European Union (the European Union), which sparked a global trade war.
The company also mentioned in a note that Reuters saw,
“The annoying American policies have been recognized as the greatest danger to global expectations throughout the year. The effect is likely to be amplified … through revenge (tariff), a slide in American commercial morale and supply chain disorders.”
However, Jpmorgan noticed that the strike is expected to be reduced from the tariffs due to the possibility of interest rates by the Federal Reserve in the future.
Other large institutions are also alerting a possible stagnation, including Goldman Sachs, Hong Kong and Shanghai Banking Corporation (HSBC), although the chances of contraction are lower.
HSBC analyst also mentioned, according to Reuters,
“The possibility of recession in the stock market implicitly indicates that stocks are already pricing in (about) 40 % of the recession by the end of the year.”
Last week, Goldman Sachs has sparked chances of stagnation and hitting the US economy in the next 12 months to 35 %, by 15 % of the previous prediction. The company said it expects inflation – except for food and energy prices – will reach 3.5 % this year, which is 1.5 % higher than the Federal Reserve’s goal by 2 %.
Also last week, President Donald Trump signed an executive order imposing a 10 % tariff on all imported goods entering the United States, while issued a declaration that explains in detail a “mutual tariff” on dozens of countries specified as of April 9, reaching up to 54 % on China.
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