USA

“I think there’s a chance real numbers will deteriorate soon,” Dimon said. JPMorgan Chase CEO Jamie Dimon has warned that US economy could soon “deteriorate”. While speaking at a Morgan Stanley conference on Tuesday, Dimon said that the effects of government spending and money policies used during the pandemic to support the US economy have worn off. And because of this, the country could face an economic slowdown in the coming months. The US economy has seen more jobs and steady consumer spending. However, surveys show that both consumers and business leaders are starting to feel less confident, likely due to the Trump administration’s tariff policies, a CNBC report said. Citing these survey results, Dimon said that these aren’t always good at predicting turning points in th...

While recession fears have cooled somewhat, here are some signals worth watching. Fears of a recession are back on investors’ minds. But predicting the onset of an economic downturn, let alone the length and severity of one, is difficult even for the experts. As a rule of thumb, two quarters of gross domestic product contraction is generally accepted as a recession, but the official start date is declared by the Business Cycle Dating Committee of the National Bureau of Economic Research. While we often don’t know we’re in a recession until it‘s well underway, here are some economic signals worth watching to get a sense of the economy’s health. What Are the Key Economic Indicators? These indicators can help give us a better understanding of where the economy and the mark...

Economists echo Dimon’s concerns as US credit downgrade and tariff-driven uncertainty continue. JPMorgan Chase CEO Jamie Dimon has warned that he can’t rule out the possibility that the United States will fall into what is called stagflation— an economic term that refers to a period when inflation and unemployment are high as economic growth is slow. In an interview with Bloomberg Television on Thursday, Dimon said, “I don’t agree that we’re in a sweet spot” in response to a question about some US Federal Reserve officials saying that the US economy was in a sweet spot. Dimon made his comments while at JPMorgan’s Global China Summit in Shanghai. His comments come against the backdrop of the US facing increasing geopolitical tensions, rising deficits and pressure on consumer p...

Despite slowdown, data points to reliance of Chinese economy in the face of Donald Trump’s tariffs. While down compared with the previous month, the figure beat analysts’ expectations. Analysts polled by the Reuters and Bloomberg news agencies had respectively forecast growth of 5.5 percent and 5.7 percent. Retail sales grew 5.1 percent year-on-year, slower than the 5.9 percent growth recorded in March and below analysts’ forecasts. Fixed-asset investment, which includes property and infrastructure investment, rose 4 percent. Unemployment fell slightly, from 5.2 percent to 5.1 percent. The latest data is likely to bolster hopes of China’s economy remaining resilient in the face of US President Donald Trump’s tariffs, after gross domestic product expanded a better-tha...

Saudi Arabia's King Salman has invited leaders of the Gulf Co-operation Council to attend a Gulf-US summit in Riyadh during US President Donald Trump’s visit to the region next week, according to sources. Mr Trump is scheduled to travel to Saudi Arabia, Qatar and the UAE on the first official foreign trip of his second term. His visit will begin in Riyadh, where he is expected to meet all GCC leaders. He will then travel to Doha and Abu Dhabi for bilateral meetings with Qatari Emir Sheikh Tamim and UAE President Sheikh Mohamed. The trip will “be dollar-deal-focused”, a US State Department official told The National. “We have Saudi, the UAE and potentially Qatar announcements as well.” Major investment agreements, the Israel-Gaza war, Abraham Accords and tariffs are expected to...