Damon warns “the soft landing” of the American economy can deteriorate

Jpmorgan Chase CEO Jimmy Damon He issued a new warning about the American economy, saying that the conditions could deteriorate soon and undermine a potentially smooth landing.

“I think there is an opportunity to deteriorate real numbers soon,” Damon said on Tuesday at the Morgan Stanley conference.

Damon prompted suggestions that investigative studies showing decreasing business and consumer confidence are an indication of what will come. He explained that “neither consumers nor companies choose the points of reflection,” he added that “the soft landing” of the economy may seem weaker with the deterioration of circumstances.

“The employment will decrease slightly.” Inflation will rise slightly. We hope it is a little bit, “adding that the decrease in immigration can weaken the economy through its impact on the labor market.

Jimmy Damon says he is not afraid of China, but he is concerned about America’s challenges

Damon also raised concerns about the private credit markets if the recession is embodied, saying that banks are facing various risks in this sector than investors and current conditions in the sector that made special credit less attractive.

“Do I think this time is right now to buy credit if you are a box manager? No,” Damon said. “I will not buy credit today at these prices and these differences.”

Damon has issued repeated warnings about the American economy in recent months.

index	protection	last	Changing	% Change
Jpm	Jpmorgan Chase & Co.	268.15	-0.45	-0.17 %

Jimmy Damon says the recession is still a possibility: “I will not take it out of the table at this stage.”

In early April, he said in his appearance on Fox BusinessMorning with Maria“His personal point of view is that the recession is” a possible result “of the economy.

Last month, Damon said in a Bloomberg television interview The recession remained a possibility after delaying the White House and some customs tariff plans decreased to accommodate negotiations.

“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.”

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

Damon said that the uncertainty created by the president Donald Trump Definitions have caused some of the company’s customers to stop investments amid the transformations in politics, which included delay in implementing definitions as well as changes in customs tariff levels with management negotiations with American commercial partners.

“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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Economists in JPMorgan reduced the possibility of recession this year from 60 % to less than 50 % after the Trump administration moved because some customs tariffs fell on China, which was scheduled to reach 145 % during a temporary period of 90 days.