JPMorgan Chase & Co. (NYSE:JPM) CEO Jamie Dimon warned Wednesday that escalating U.S.-China trade tensions have significantly increased the risk of a recession after President Donald Trump‘s tariff policies destabilized financial markets.
The Details: During a Fox Business interview, Dimon attributed the growing recession risk to the cascading effects of Trump’s trade policies and China’s retaliatory tariffs.
JPMorgan economists recently raised their recession probability to 60% and anticipate a 0.3% GDP contraction this year.
When asked if he expects a recession, Dimon replied, “I think that’s a likely outcome.”
“A 2,000-point Dow …