According to a recent poll by the National Association of Business Economics, 72% of economists polled expect the next U.S. recession will begin by the middle of next year — if it hasn’t already started. JPMorgan CEO Jamie Dimon recently warned that the U.S. could be heading into something worse than a recession. Dimon has estimated a 20- to 30% chance of a “harder recession” and a 20- to 30% chance of “something worse.” In other news, BBN Times has listed six good reasons to invest in precious metals right now.
CNN Business/Matt Egan
72% of economists expect a US recession by the middle of next year
The Federal Reserve is unlikely to tame inflation without pushing the American economy into a recession, according to a survey of economists released Monday.
Seventy-two percent of economists polled by the National Association of Business Economics expect the next US recession will begin by the middle of next year — if it hasn’t already started.
That gloomy finding includes nearly one in five (19%) who say the economy is already in a recession, as determined by the National Bureau of Economic Research (NBER). Another 20% of forecasters do not expect a recession to begin before the second half of next year.
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BBN Times/Daniel Hall
6 good reasons to invest in gold and other precious metals
Gold has been a valuable commodity for centuries, and for good reason.
There are many reasons why investing in gold is a smart move, and in this article, we will discuss six of them. Gold is a tangible asset that holds its value over time, making it a wise investment choice. Additionally, gold is not tied to the performance of the stock market or other investments, so it provides stability during times of economic instability. Additionally, gold is portable and can be easily stored or transported. If you’re looking for an investment that offers security and stability, then gold may be the right choice for you!
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Kitco News/Anna Golubova
Is ‘something worse’ than a recession coming? Jamie Dimon issues warning as JPMorgan sees Fed’s last big rate hike in September
With all eyes set on Federal Reserve Chair Jerome Powell’s speech at the Jackson Hole symposium on Friday, JPMorgan expects the next rate increase to be the last big hike of the tightening cycle. JPMorgan CEO Jamie Dimon also warns that “something worse” than a recession could be coming.
The last time the Fed could surprise markets with an oversized rate hike would be at its upcoming September meeting, JPMorgan Chase & Co. strategists said in a note Monday.
“We expect another outsized Fed hike in September, but post that, we would look for the Fed not to surprise the markets on the hawkish side again,” they wrote strategists.
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