The Federal Reserve announced the third consecutive 75-basis-point interest rate hike last month and signaled more hikes this year to battle soaring prices. The economy seems to be on the brink of a recession amid such aggressive hikes.
JPMorgan CEO Jamie Dimon warned that the U.S. would likely fall into a recession in 2023, and it may not be just a mild contraction that some investors are expecting. “It can go from very mild to quite hard, and a lot will be reliant on what happens with this war. So, I think to guess is hard, be prepared,” he said.
