Jimmy Damon says that the American recession is still a possibility

Jpmorgan Chase CEO Jimmy Damon On Thursday, it warned that a possible recession may still happen with turmoil from the Trump administration tariff for the economy.

Damon attended the annual conference of the company’s global markets and said in a Bloomberg television interview He hopes the economy will avoid the recession, but it is still a possible result.

“I hope we avoid it, but I will not take it out of the table at this stage,” Damon said. “If there is a recession, I don’t know how much it will be or the time it will continue.”

Damon’s comments come after the JPMorgan economists have reduced their appreciation for The possibility of stagnation From 60 % before temporary reduction in customs tariffs on China, to less than 50 % after stopping. Damon himself warned last month before the recession stopped was a “possible result” of the American economy.

Jpmorgan reduces the possibility of stagnation after Trump’s introductory truce with China

Damon said that The uncertainty created by the definitions It caused some of the company’s customers to stop investments with continued volatility.

The markets have risen yet Trump administration The Chinese government agreed to temporarily reduce tariffs from 145 % on Chinese goods and 125 % on American exports to 30 % and 20 %, respectively, with negotiations continuing in the long term.

“I think this is the right thing to do – it is to back down from some of these things,” said Damon.

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He told the port that the definitions had sparked a probability of decrease in Investments in the United StatesSaying: “There will be a little. We are a lot of people.

Despite the uncertainty and tensions created by the definitions, Damon said that the United States is still the best place to invest.

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