On Monday, Goldman Sachs raised its odds of a recession in the next 12 months to 45%, up from 35% last week. In the span of a month, the investment bank went from a 20% chance of a recession to a nearly 50/50 chance.
J.P. Morgan raised the risk of a recession to 60%.
In its annual report released Monday, J.P. Morgan shared that Trump’s tariffs are causing “turbulence” in the economy.
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“The recent tariffs will likely increase inflation and are causing many to consider a greater probability of a recession,” the report stated. “And even with the recent decline in market values, prices remain relatively high. These significant and somewhat unprecedented forces cause us to remain very cautious. There is much more detail on
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