Economists at JPMorgan Chase said that the risk of a recession had edged up to 40% from 30% owing to “extreme U.S. policies,” the Wall Street Journal reports.
Goldman Sachs, which has consistently anticipated above-consensus growth in recent years, now says it expects weaker growth than the rest of Wall Street.
Meanwhile, former Treasury Secretary Larry Summers, the inflation canary in the coal mine under President Joe Biden, puts the chances of recession at “getting close to 50/50.”