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JPMorgan believes the US economy will enter a recession in the back half of 2025 as the impact of President Trump tariffs takes hold in the economy.
The firm's chief US economist Michael Feroli sees a two quarter recession occurring in the back half of 2025 as GDP contracts by 1% in the third quarter of the year and by 0.5% in the fourth quarter. For the full-year 2025 Feroli's team projects GDP will fall by 0.3%
"We now expect real GDP [gross domestic product] to contract under the weight of ...
>>> Read more: JPMorgan becomes the first Wall Street bank to forecast a US recession following Trump's tariffs
The firm's chief US economist Michael Feroli sees a two quarter recession occurring in the back half of 2025 as GDP contracts by 1% in the third quarter of the year and by 0.5% in the fourth quarter. For the full-year 2025 Feroli's team projects GDP will fall by 0.3%
"We now expect real GDP [gross domestic product] to contract under the weight of ...
>>> Read more: JPMorgan becomes the first Wall Street bank to forecast a US recession following Trump's tariffs
