Chase CEO Jamie Dimon said that sweeping tariffs imposed by U.S. President Donald Trump will probably lead to a recession and defaults by borrowers.
Traders should temper their bets that the Federal Reserve will ramp up interest-rate cuts to mitigate the effects of Donald Trump’s trade conflict.
US central banker says no rush to cut interest rates with economy and labor market still solid and lot still unclear about size and scope of tariffs.
The recent sell-off in equities and the reintroduction of tariffs under Trump’s proposed policies have reignited fears of a U.S. recession in 2025.