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Jimmy Damon, CEO of JPMorgan Chase & Co, warned that the United States risks real translation and supported the Federal Reserve decision to maintain current rates. This is not a time for contentment to be satisfied, even as geopolitical tensions are high, amid an installation deficit.
the Jpmorgan Chase & Co. chief executive officer bidder With the idea that the United States is “in a sweet place”, adding that the American Federal Reserve does the right thing to wait and see it before it decides the monetary policy.
Federal reserve officials continued to retain interest rates steadily this year amid a strong economic background and uncertainty about government policy changes – such as customs tariffs – and its potential impact on the economy.
However, the Federal Reserve indicated earlier this month that there is an increasing danger to the face of inflation and high unemployment, which increases the overcoming of US economic expectations because politics is fighting with the influence of President Trump’s tariff.
Damon sees the stormy clouds in the upcoming recession to the United States
Damon said that he could not exclude a scenario as the United States slipped into the recession, arguing that the country is facing great risks resulting from continuous geopolitical and financial pressure.
Troy Rozao, a participant in the Commercial and Investment Banking Department at JPMorgan, indicated that the institution’s investment fees may decrease percentage in response to these increasing doubts.
The Federal Reserve’s warning about stagnation also reflects uncomfortable economic policies, especially customs tariffs, and their long -term consequences. Damon’s concerns have strengthened this opinion, indicating that politicians may face strictly more strict options.
Damon also drew attention to the country’s growing imbalances in the country, saying that the United States should attack deficit problems. He added that he understands why investors are likely to decline from the dollar -based assets.
“When I saw all these things add up to the signs of the maximum, I don’t think we can predict the results, and I think the opportunity to inflation in height and stagnation is slightly higher than others think.”
–Jimmy DamonCEO of Jpmorgan Chase & Co.
Damon’s comments came just as the Republicans in the House of Representatives revealed a revised version of the President of President Trump’s Tax and spending bill, which included the limits of a tax discount higher than the states.
Powell says it is unclear whether the economy will grow or wilt
Federal Reserve Chairman Jerome Powell said it is unclear whether the economy will continue its fixed -to -grow or wilt under increased uncertainty and a possible rise in inflation. With a lot of instability about what Trump will ultimately decide and what will survive in court and possible political battles, Powell said the scope, scale and the continuation of these effects are “very certain.”
Powell’s minute was to say the US Central Bank was actually marginalized until Trump’s comprehensive policy agenda became a valid.
However, the chief American economist in Jeffrez Thomas Simmons said that the Powell language has reduced the amount of turmoil that occurred since the Federal Reserve meeting from March 18 to 19 and how the expectations have become unexpected.
Powell’s comments have been significantly exposed to the continued elasticity of the economy, as job gains continue and the economy is still growing at a strong pace. He said that the recently reported decrease in GDP in the first quarter was “deviant” through a standard impulsion in imports, as companies and families tried to expected import taxes at the forefront, with local demand measures continued to grow. But even those data showed the dilemma facing the federal reserve.
Powell also pointed out that the Federal Reserve was unable to respond until it becomes clear what the economy flying and how to evaluate the risks on its targets of inflation to 2 % and maintain the maximum amount of employment.
However, he stressed that the current federal reserve position on monetary policy leaves it well to respond in time for possible economic developments, which confirms the waiting and vision approach that has become the Central Bank’s contact card during these first months of the Trump administration.
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