Talk About BS: JPMorgan Economists Discard Prior Recession Prediction, Foresee US Economic Resilience
BanksterCrime:
JPMorgan’s economists have jettisoned previous predictions of an impending U.S. recession. Their chief U.S. economist, Michael Feroli, is confident that the American economy will maintain a modest but steady growth trajectory throughout the remainder of the current year and well into 2024.
JPMorgan Foresees U.S. Economic Growth Amid ‘Ridiculous’ Fitch Downgrade and Recession Fears
Echoing Bank of America’s revision of its economic outlook, JPMorgan’s team of economists have likewise set aside their earlier recession projections. The top-ranking bank in the nation initially forecasted a downturn for 2023. However, their principal U.S. economist, Michael Feroli, now holds a more optimistic view that the U.S. can successfully dodge a full-scale recession.
“While a recession is no longer our modal scenario, risk of a downturn is still very elevated,” Feroli wrote on Friday. “One way this risk could materialize is if the Fed is not done hiking rates. Another way in which recession risks could materialize is if the normal lagged effects of the tightening already delivered kick in.”
Feroli, alongside his cohort of economists at JPMorgan, now foresees an economic resurgence in 2023, followed by a period of “modest, sub-par growth” in the subsequent year. This projection defies the widespread dissenting opinion that a recession, or even a depression, within the U.S., is inevitable. Danielle DiMartino Booth, the CEO and chief strategist at QI Research, argues that the repercussions of the Federal Reserve’s interest rate increments and quantitative tightening have yet to fully manifest in the U.S. banking industry.
Moreover, JPMorgan’s perspective comes on the heels of Fitch Ratings’ decision to lower the credit rating of the United States. Unfazed by Fitch’s downgrade, JPMorgan’s chief, Jamie Dimon, dismissed the move as “ridiculous” in an interview. Speaking to CNBC, Dimon downplayed the significance of the downgrade, saying “it doesn’t really matter that much,” and emphasized that the United States remains “the most prosperous nation on the planet, [and] the most secure nation on the planet.”
Dimon and his team at JPMorgan perceive a budding growth in the U.S. economy, prompting their economists to doubt their previous forecasts. “Given this growth, we doubt the economy will quickly lose enough momentum to slip into a mild contraction as early as next quarter, as we had previously projected,” Feroli concluded in his missive to investors last Friday.
Happy Birthday Jesus,May This Day Be Filled With Joy and Celebration! You Appear Remarkably Youthful, Considering Your Age of Over 2000+ Years
The Birth of Jesus 2 In those days Caesar Augustus issued a decree that a census should be taken of the entire Roman world. 2 (This was the first census that took place while[a] Quirinius was governor of Syria.) 3 And everyone went…
SBF’s Lawyer Says FTX Co-Founder Was ‘Worst’ Witness Ever
Stanford Law professor David Mills, who led Sam Bankman Fried’s criminal defense trial, says the FTX co-founder went off the rails when he took the stand. “He may be at the very top of the list as the worst person…
A Rigged-System From Top To Bottom: George Orwell Meets Lewis Carroll
BanksterCrime: by Tyler Durden Authored by Donald Jeffries via ‘I Protest” Substack, Just the other day, New York Attorney General Letitia James issued a remarkable statement. “Before this trial even began, the judge ruled in our favor and found that…
Bitcoin, Bullion, & Big-Tech Bounce As Rate-Cut Hopes Roar Higher
BanksterCrime: by Tyler Durden Personal Consumption growth slowed (3 months ago) and so did Core PCE inflation (to 2%); Jobless claims fell (to 2023 lows) as the LEI continued to tumble, signaling recession in 1H24. So, ‘goldilocks’, ‘soft landing’, ‘everything…
JPMorgan Chase As Bank of America, Wells Fargo and Citigroup Will Be Close Temporary Very Soon, Welcome to Fed Now CBDC
$40,000,000,000 in Unrealized Losses Hits JPMorgan Chase As Bank of America, Wells Fargo and Citigroup Face Exposure to US Treasuries: Report BanksterCrime: According to a recent analysis on the company’s entire balance sheet, JPMorgan Chase has quietly revealed tens of…
Three Wall Street Mega Banks Hold $157.3 Trillion in Derivatives – That’s $56.7 Trillion More than the Entire World’s GDP Last Year
By StevieRay Hansen A consumer spending expert has released a dismal forecast for the US economy in 2024. Harry Dent told Fox Business on Tuesday that “since 2009, this has been 100 percent artificial, unprecedented money printing and deficits: $27…
David Webb Has an Incredible Bio, and Came From a Family Deeply Involved in Freemasonry. He Was a Successful Wall Street Manager for Years, and Now Lives in Switzerland Where He Owns Farmland. He Is Originally From Cleveland
According to Webb, everything is now in place for the Banks to steal our money in the “Great Reset.” Down Load The Free Book Here Revelation: A Blueprint for the Great Tribulation Understand What’s Coming A Watchman Is Awakened The…
It Seems We Have Hit A Point Where A Wall Is In The Way Of “Kicking The Can” Much Further
BanksterCrime: by Tyler Durden By Peter Tchir of Academy Securities I’ve been doing a lot of thinking about “kicking the can.” Not because “kicking the can” has been effective, but because we seem to have hit the point where a…
The New York Fed Has Extended Its Half Trillion Dollar Bailout Facility to a Sprawling Japanese Bank You’ve Never Heard Of
BanksterCrime: By Pam Martens and Russ Martens: Kazuto Oku, CEO of Norinchukin Bank Quietly, on December 1, the New York Fed published the following statement on its website: “The Norinchukin Bank, New York Branch, has been added to the list of…
Wall Street CEOs Want the Line Between a Federally-Insured Bank and a Wall Street Trading Casino Erased; Regulators Want Higher Capital to Prevent That
By Pam Martens and Russ Martens: David Solomon, Chairman and CEO, Goldman Sachs David Solomon, Chairman and CEO of Goldman Sachs, let it slip out at yesterday’s Senate Banking hearing what is really driving the mega banks’ backlash against federal banking…
Say hello to Granite Ridge Soap-works! Use our handmade soaps to take good care of your skin. Our premium natural ingredients work together to create a silky, creamy lather that hydrates your skin. Chemicals, such as sodium lauryl sulfate, phthalates, parabens, or detergents, are never used by us. To ensure quality, we make all of our soaps in modest quantities. Visit our Etsy store right away to give them a try and the attention your skin deserves. GraniteRidgeSoapworks: Because only the best will do for your skin.
Use the code HNEWS15 to receive 15% off your first purchase.
Sources: BitCoinNews BanksterCrime