JPMorgan Chase CEO Jamie Dimon predicts recession in next 6-9 months
Jamie Dimon, CEO of JPMorgan Chase, predicted on Monday that the United States will most likely enter a recession within the next six to nine months.
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The stock market continues to tank, with major indices reaching or nearing multiyear lows. The head of the largest bank in the U.S. says the worst may still be on the horizon, outlining how a forthcoming recession may play out. This is a difficult time for investors and the economy as a whole.
![JPMorgan Chase CEO Jamie Dimon says the U.S. will probably fall into a recession in the next nine ... [+] months.CQ-Roll Call, Inc via Getty Images](/uploaded_images/3c5a005b9e75b40bc97d75d15efc477e_1665431103.jpg)
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With the Nasdaq on pace for its biggest loss since 2008, it's clear that the stock market is in for a rough ride. The Dow is down 20%, which would also be its worst performance since 2008, and things are looking bleak for investors. However, there are always opportunities in the midst of crisis, and savvy investors will be looking for ways to capitalize on the current market conditions.
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The U.S. economy is already in a recession, according to one popular marker. The gross domestic product has declined over the last two quarters, and the Dollar Index has surged about 20% year-to-date. The Dow rose 5% last Monday and Tuesday on hopes that the Fed would back off of its most aggressive plans, but pared gains after several important data points indicated more rate hikes are on the way.
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It's no secret that the global economy is in a precarious state. With stock markets around the world in a tailspin and economic growth slowing in many countries, the specter of a recession looms large. Now, a top Federal Reserve official is warning that interest rate hikes by the U.S.
There is a real danger that the world economy could enter a recession in the near future, as interest rate hikes threaten to cause up to $4 trillion in economic losses, the World Bank has warned.
It's no secret that the economy has been struggling lately. But according to JPMorgan Chase CEO Jamie Dimon, things could be about to get a whole lot worse. In a recent interview, Dimon warned that the United States is likely to tip into recession within the next 6 to 9 months. And he's not the only one sounding the alarm – a number of other leading economists have also warned that a recession is on the horizon. Of course, a recession is never good news. But it's especially worrying given the current state of the economy. We're already seeing rising unemployment and inflation, and if a recession hits, it could be devastating for millions of Americans. So what can we do to prevent a recession? That's a question that economists and policymakers are still trying to answer. But one thing is clear – we need to act fast. If we don't, we could be facing an economic crisis that makes the last recession look like a walk in the park.
The recent jobs report was better than expected, causing markets to plummet. Here's a look at why this may be the case. It's no secret that the job market has been struggling in recent years.
