The odds of a global recession are 98%, per Ned Davis Research. pic.twitter.com/OiMDHSvWBy
— unusual_whales (@unusual_whales) October 10, 2022
S&P 500 EXTENDS DROP, ON PACE FOR LOWEST CLOSE SINCE NOVEMBER 2020
— *Walter Bloomberg (@DeItaone) October 11, 2022
NEW: Bank of America predicts US economy will soon start losing 175,000 jobs a month
— Insider Paper (@TheInsiderPaper) October 11, 2022
BREAKING: The IMF warns “the worst is yet to come" as it cuts its forecast for global growth next year to 2.7% t.co/GqLZ5KM2cR pic.twitter.com/BzrZPOpwI3
— Bloomberg Markets (@markets) October 11, 2022
The risk of policy miscalculation has risen sharply as growth remains fragile and markets show signs of stress, the IMF says in its World Economic Outlook.
About one third of the global economy risks contracting next year, according to the fund t.co/fDNeGeYjQ5 pic.twitter.com/gzKz7cobSj
— Bloomberg Markets (@markets) October 11, 2022
We're back on the edge of the large volume gap on the S&P 500. Below 3570 there's no volume support.
Markets need to bounce from here or things get spicy real quick. pic.twitter.com/HoHzVOCUc7
— Financelot (@FinanceLancelot) October 11, 2022
After spending HK$22 bn on stock buybacks year to date, #Tencent hit lowest since Nov 2018… pic.twitter.com/bTkyZa67fr
— Cathy Yuan Zhang (@CathyYuanZhang) October 11, 2022
Right now, the consensus belief is that global liquidity has been deteriorating rapidly, and intervention by the Federal Reserve will come shortly when "something breaks". But since nobody can decide what that "something" might be, this shows fear remains in its early innings…
— Concoda 🥷 (@concodanomics) October 10, 2022
Plus, as officials become more like vigilantes, the Fed is likely to raise rates higher than anyone expects. Cleveland Fed President Loretta Mester recently revealed the Fed would raise rates "even in a recession".
Worse still…
— Concoda 🥷 (@concodanomics) October 10, 2022
In response, Federal Reserve Chairman Jerome Powell responded with a resounding "no", prioritizing the Fed's domestic anti-inflation agenda over the financial health of emerging nations. These are countries starting to again feel the burden of living in the U.S dollar hegemony… pic.twitter.com/ywfv2vJ9sl
— Concoda 🥷 (@concodanomics) October 10, 2022
— IV (@iv_technicals) October 11, 2022
‘This is serious’: JPMorgan’s Jamie Dimon warns U.S. likely to tip into recession in 6 to 9 months
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JPMorgan Chase CEO Jamie Dimon said the U.S. economy was “actually still doing well” at present and consumers were likely to be in better shape compared to the 2008 global financial crisis when the world tips into recession.
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“But you can’t talk about the economy without talking about stuff in the future — and this is serious stuff,” Dimon told CNBC’s Julianna Tatelbaum on Monday.
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His comments come at a time of growing concern about the prospect of an economic recession as the Federal Reserve and other major central banks raise interest rates to combat soaring inflation.
JPMorgan Chase CEO Jamie Dimon on Monday warned that a “very, very serious” mix of headwinds was likely to tip both the U.S. and global economy into recession by the middle of next year.
Dimon, the chief executive of the largest bank in the U.S., said the U.S. economy was “actually still doing well” at present and consumers were likely to be in better shape compared to the 2008 global financial crisis.
“But you can’t talk about the economy without talking about stuff in the future — and this is serious stuff,” Dimon told CNBC’s Julianna Tatelbaum on Monday.