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JPM Raises Odds of US Econ Recession This Yr to 40%; Current Govt Admin. Style Shakes Investor Confidence
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The chances of the US economy falling into a recession this year have risen to 40%, compared with JPMorgan's estimation of 30% at the start of the year, Bruce Kasman, Chief Economist at JPMorgan, said at a forum. The broker's worries about the US economy intensified significantly, Kasman added. While there has been no formal revision to the forecasts, JPMorgan kept its current forecast of 2% GDP growth for the US this year unchanged. If the US government continues its disturbing demeanor, it will shake investors' confidence in US assets, US market and US institutions that have been built up over the years, Kasman foresaw. AAStocks Financial News |
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