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.
Dalio & Tudor Jones Warn: “We Will Kill Each Other” If Our Broken Economic System Isn’t Fixed
Two hedge fund icons – Bridgewater founder Ray Dalio and Paul Tudor Jones – joined Yahoo Finance for the 2nd annual Greenwich Investment Forum earlier this month. Speaking directly after Connecticut Gov. New Lamont, with whom Dalio is working to bolster Connecticut’s…
China Braces For December D-Day: The “Unprecedented” Default Of A Massive State-Owned Enterprise
The identity and actions of these world powers are described primarily in Daniel, Ezekiel, and Revelation. The king of the west is the Antichrist who will lead the ‘revised’ Roman Empire [the seventh kingdom] and its western allies. The ‘revised’ Roman Empire today is the European…
The Food Shortage and the Coming Tribulation’s
There Are Not Enough Pigs in the World to Fill China’s Pork Hole… African swine fever has wiped out herds of pigs all over China – by some estimates more than half – and it now appears the global supply…
Doug Casey On The Destruction Of The Dollar
“Inflation” occurs when the creation of currency outruns the creation of real wealth it can bid for… It isn’t caused by price increases; rather, it causes price increases. Inflation is not caused by the butcher, the baker, or the automaker,…
Bad Bankers: Senior Ex-Deutsche Bank Exec Linked To Millions In Donald Trump Loans Commits Suicide
Banks and bankers are dishonest by design, these bankers are not committing suicide because they want to be the first in heaven… During the past few years, we extensively covered a bizarre surge in banker suicides, pointing out the various conspiracy…
Second Bank Run In Two Weeks As China’s Banks Are Caught In A Self-Destructive “Doom Loop”
Three weeks ago we reported that China’s Henan Yichuan Rural Commercial Bank, just outside the central Chinese city of Luoyang, was the latest small-to-medium Chinese bank to suffer a vicious bank run as long lines of depositors filled out its…
Its BS, Fracking Blows Up Investors Again: Phase 2 Of The Great American Shale Oil & Gas Bust
In 2019 through the third quarter, 32 oil and gas drillers have filed for bankruptcy, according to Haynes and Boone. Since the end of September, a gaggle of other oil and gas drillers has filed for bankruptcy, including last Monday, natural…
Goldman Banker On Trial Had $24,000 Hidden In His Sunglasses Case
The very good criminal has their secret stash of cash that they are either hiding from the government or using for illicit “working capital” purposes. Usually, this cash is held in safes, briefcases or good old fashioned sacks with dollar signs…
The Beast Is Almost Complete, Deutsche Bank to Replace 18,000 Workers with Robots
Deutsche Bank plans 18,000 job cuts in robot strategy called “Operations 4.0”. Operations 4.0 Underway Deutsche Bank says Operations 4.0 is already underway. The plan is to Replace 18,000 Jobs With Robots. Mark Matthews, head of operations for Deutsche’s corporate and…
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