Jamie Dimon says he still sees a recession on the horizon

Key Points

JPMorgan Chase CEO Jamie Dimon said Wednesday he still believes that the odds of a “soft landing” for the economy are around 35% to 40%, making recession the most likely scenario in his mind.
When asked by CNBC’s Leslie Picker if he had changed his view from earlier this year that markets were too optimistic on recession risks, Dimon said the odds were “about the same” as his earlier call.
Dimon added he was “a little bit of a skeptic” that the Federal Reserve can bring inflation down to its 2% target because of future spending on the green economy and military.

Source

Finance

The Fed forecasts lowering rates by another half point before the year is out

September 18, 2024

U.S. Federal Reserve Chair Jerome Powell speaks during a press conference following a two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, U.S., July 31, 2024. Kevin Mohatt | Reuters The Federal Reserve projected lowering interest rates by another half point before the end of 2024, and the central bank […]

Finance

Stocks making the biggest moves midday: Intuitive Machines, U.S. Steel, Victoria’s Secret and more

September 18, 2024

Check out the companies making headlines in midday trading: Intuitive Machines — Shares soared 51% after the space exploration company secured a roughly $5 billion space network contract from NASA. United States Steel — The U.S. steel producer saw shares jump more than 2% after news that a U.S. security panel has reportedly granted Nippon […]

Finance

JPMorgan creates new role overseeing junior bankers as Wall Street wrestles with workload concerns

September 18, 2024

Key Points JPMorgan Chase created a new global role overseeing all junior bankers in an effort to better manage their workload after the death of a Bank of America associate in May forced Wall Street firms to examine how they treat their youngest employees. The firm named Ryland McClendon its global investment banking associate and […]