JPMorgan Drops US Recession Call After US-China Trade Truce
JPMorgan Chase & Co. boosted its forecast for US economic growth after a temporary trade deal between the US and China, dropping its earlier call that the world's largest economy would sink into a recession in 2025.
'The administration's recent dialing down of some of the more draconian tariffs placed on China should reduce the risk that the US economy slips into recession this year,' JPMorgan Chief US Economist Michael Feroli said Tuesday in a note. 'We believe recession risks are still elevated, but now below 50%.'
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