Jamie Dimon sees only a 10% chance of an economic downturn that doesn't lead to a recession.
While the U.S. economy is strong and consumer balance sheets are in good shape, there are storm clouds on the horizon, according to the banking boss. There was a finance report.
A mild recession has a 20% to 30% chance, while a harder recession has the same odds.
What's the final outcome?
He thought something worse.
It is not a good idea to point to a single point forecast as to what will happen with the U.S. economy.
Inflation, partisan politics, and a lot of leftover anger from COVID-19 are some of the reasons for low confidence.
He thinks the goal of bringing inflation down to 4% by the end of the year is highly unlikely.
"I wish we had the spirit that we were all here to work together, but it seems we just got nastier."
The JP Morgan boss is more dire than most other executives.
Blackrock CEO Larry Fink told investors to keep calm and carry on, even though Goldman's David Solomon warned of trouble ahead.
There is a risk of a recession. There is, yes. Even if we are in one it will be mild.
The Harvard economist and economic advisor to the White House under Barack Obama says the chances of a recession are less than the one given by theDeutsche Bank CEO.
The market will not only avoid a recession but will rise 40% by the end of the year, according to John Stoltzfus, the most optimistic investment strategist.
This prediction was similar to one of the Wall Street strategists who said this is a good time to realize that things do turn around.
There are people who are more in line with Dimon.
The U.S. was heading into a "really fast recession" and the economy was going to collapse according to one of the most pessimistic predictions made by a digital currency bull.
Retailers like Walmart and Target have slashed their profit forecasts, while tech companies like Apple and Meta are planning to cut workers.
The CEO of Meta said in a conference call that this might be one of the worst downturns in recent history.
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