Friday, April 8, 2022

'Recession shock coming,' major US bank warns

"The macroeconomic picture is deteriorating rapidly and could push the US economy into
recession as the Federal Reserve tightens monetary policy to tame surging inflation, Bank of America (BofA) warned on Friday. JPMorgan's chief executive, Jamie Dimon, said in his annual letter to shareholders that the combination of inflation, the conflict in Ukraine and sanctions against Russia may "dramatically increase risks ahead" for the US. He has warned of unpredictable consequences for the nation's economy." RT

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