CNBC's Steve Liesman joins 'Power Lunch' to report on JPMorgan calling off its recession forecast for 2023. For access to live and exclusive video from CNBC subscribe to CNBC PRO:
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BREAKING: Recession News LEARN MORE ABOUT: Bank Failures REVEALED: Best Investment During Inflation HOW TO INVEST IN GOLD: Gold IRA Investing
JPMorgan, one of the world's leading financial institutions, has recently called off its forecast for a recession this year. This comes as a surprise to many, as fears of an economic downturn have been mounting due to the ongoing coronavirus pandemic. In a recent statement, JPMorgan stated that despite the unprecedented challenges faced by economies across the globe, they now believe that a recession in 2020 is unlikely. This comes as a result of various factors, including the massive stimulus measures implemented by governments and central banks, as well as the gradual reopening of economies. The initial forecast made by JPMorgan, like many other financial institutions, was based on the assumption that the Covid-19 pandemic would cause a severe and prolonged economic contraction. However, the swift actions taken by governments and central banks to mitigate the impact of the pandemic have seemingly paid off, at least for now. The infusion of trillions of dollars in stimulus packages has provided a lifeline for struggling businesses and individuals. These measures have helped to contain the economic fallout and prevent a complete collapse of various sectors. Additionally, the gradual reopening of economies has led to a gradual recovery, albeit at a slower pace. While JPMorgan has called off its recession forecast for this year, it continues to anticipate an elevated risk of a recession next year. This is mainly due to the lingering effects of the pandemic, such as high levels of unemployment, weakened consumer spending, and continued disruptions across various industries. The road to economic recovery will not be an easy one. Many countries are still battling the virus, and the possibility of a second wave remains a significant concern. Additionally, the long-term effects of the massive stimulus measures, such as increased government debt and low-interest rates, could pose challenges to sustainable economic growth. It is important to note that JPMorgan's revised forecast should not be taken as an absolute guarantee. The future of the global economy remains highly uncertain, and much depends on the containment of the virus and the effectiveness of economic policies. Ultimately, JPMorgan's decision to call off its recession forecast for this year provides a glimmer of hope amidst the gloom. It indicates that the efforts made by governments and central banks have had some positive effects in averting an immediate economic catastrophe. However, the battle is far from over, and the road to recovery remains uncertain. Vigilance and concerted efforts will be crucial in navigating the challenges that lie ahead. https://inflationprotection.org/jpmorgan-cancels-recession-forecast-for-this-year-but-raises-concerns-for-next-year/?feed_id=141016&_unique_id=651721d24c8ad #Inflation #Retirement #GoldIRA #Wealth #Investing #breakingnews #business #cable #cablenews #CNBC #financenews #financestock #financialnews #money #moneytips #news #newschannel #newsstation #stockmarket #stockmarketnews #Stocks #usnews #worldnews #RecessionNews #breakingnews #business #cable #cablenews #CNBC #financenews #financestock #financialnews #money #moneytips #news #newschannel #newsstation #stockmarket #stockmarketnews #Stocks #usnews #worldnews
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