Month: August 2024

Related media - Breaking news In a recent interview, JPMorgan Chase CEO Jamie Dimon reiterated his view that a U.S. recession remains a likely outcome, assigning a 35% to 40% chance for a mild economic downturn. That reflects his consistent stance since February, when he expressed skepticism about the market’s overly positive sentiment on recession risks. In his conversation with CNBC’s Leslie Picker, Dimon stressed that his assessment remains unchanged, highlighting ongoing global and domestic challenges that could impact economic stability. These include geopolitical tensions, housing market fluctuations, government deficits, and policy actions such as quantitative tightening and upcoming elections,…

Related media - Recent news Unemployment rates among white, black and Hispanic women rose in June, in line with broader economic trends, according to data released Friday by the Labor Department. White adult women saw a slight increase in unemployment, from 3.0% in May to 3.1% in June. Black women saw their unemployment rate increase from 5.2% to 5.7%, while Hispanic women saw an increase from 4.1% to 4.5%. Overall, the national unemployment rate rose to 4.1%, from 4.0% last month. In contrast, unemployment rates for men in all three racial groups declined. The rate for white men fell to…

Related media - Recent news MIAMI — With the growing likelihood that Donald Trump will win the 2024 presidential election, Goldman Sachs economists are warning that another term for the former president could have “profound implications” for the euro area economy. “Our baseline estimates point to a significant decline in GDP (gross domestic product) of around 1% with a modest increase in inflation of 0.1 percentage points,” Goldman Sachs’ Jari Stehn and James Moberly noted in a report released Friday, before Saturday’s assassination attempt. "Trump's re-election would therefore pose a significant downside risk to our otherwise constructive growth forecast for…