The US is still hoping for a relatively mild recession.
The Russian invasion of Ukraine became one of the main problems for of the US economy.
Such a statement was made by the CEO of JPMorgan Chase & Co. Jamie Dimon, while noting that relations with China have become another problem for the United States, reports Bloomberg.
“Ukraine worries me the most. Oil, gas, world leadership and our relationship with China are much more serious than the economic fluctuations that we all have to deal with every day,” said JPMorgan’s executive director.
He also noted that the US is still hoping for a relatively mild recession.
“We may still have a soft landing. A mild recession is possible, a tougher recession is possible. I think there’s a good chance that inflation will come down, but not enough until the fourth quarter,” Dimon said.
The war in Ukraine and the US economy
In July 2022, JPMorgan announced that the US economy is one step away from recession.
In September 2022 US stock indices fell to a two-year low.
On October 2, 2022, information appeared in the media that the USA was ready allocate to Ukraine every month $1.5 billion by the end of the war.
As of October 11, S&P predicted that the world’s largest economy would begin to slow and fall. Analysts expected that the US economy will enter a recession in the last quarter of the year. The research group cut its forecast for real gross domestic product in 2023 to minus 0.5%, down from 0.9% growth previously.