JPMorgan slashes its GDP forecast for next quarter — now sees a 25% contraction and imminent recession despite 'Herculean' stimulus measures

Business Insider


· *JPMorgan lowered its first-half US GDP forecast Wednesday after projecting a deep recession just one week earlier.*
· *First-quarter growth will slip to -10% from its previous -4% estimate, the team led by chief economist Michael Feroli wrote. Second-quarter expansion will plunge to -25% from -14%.*
· *The bank kept its...

Full Article