Recession Fears Grow as US Economy Expected to Contract
JPMorgan Chase has downgraded its forecast for US economic growth to -0.3% due to the impact of tariffs announced by President Donald Trump’s administration. The bank’s chief economist, Michael Feroli, expects real GDP contraction, depressed hiring, and an unemployment rate of 5.3%. Other banks have also reduced their projections, with Barclays slashing its forecast for … Read more