BlockBeats reported that on August 11, according to News.bitcoin, JPMorgan Chase CEO Jamie Dimon reiterated that recession is still the most likely outcome for the U.S. economy, and he insisted that the probability of a "soft landing" is only 35% to 40%. In an interview with CNBC, Jamie Dimon emphasized the continued uncertainty facing the market, pointing out geopolitics, housing, deficits, spending, quantitative tightening, and elections, all of which can cause panic in the market. Although he was cautious, he admitted that the economy performed better than expected.
Dimon, who has been warning about economic challenges since 2022, said the U.S. is not currently in a recession. However, he remains skeptical about the Fed's ability to get inflation down to its 2% target due to future spending pressures, while JPMorgan Chase raised the odds of a U.S. recession in 2024 to 35%. JPMorgan is not the only Wall Street firm to raise its expectations for this outcome. Goldman Sachs also raised its forecast from 15% to 25%, but noted that a recession could be avoided if the Fed cuts interest rates or buys bonds.