Tough times are ahead, former Chase chief economist warns

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Tough times are ahead, former Chase chief economist warns

Former Chase chief economist Anthony Chan argues the question right now is whether an upcoming recession will be major or minor given the inconclusiveness of the data.

Former Chase chief economist Anthony Chan reacted to JP Morgan Chase CEO Jamie Dimon’s warning of a looming economic “hurricane,” warning that he, too, believes “tough times are ahead.”

Speaking on “Varney & Co.” on Tuesday, Chan also argued that there is “no doubt” that the risk of recession has increased for 2023.

Dimon, who said at the beginning of May there were storm clouds forming on the economic horizon, ratcheted up his warning last week, citing fresh challenges facing the Fed as it seeks to tame the hottest inflation in a generation.

“I said there were storm clouds. But I’m going to change it. It’s a hurricane,” he said during a conference hosted by AllianceBernstein Holdings.

“Right now it’s kind of sunny,

Harvard economist on ‘eye-popping’ inflation amid Federal Reserve uncertainty

Previous IMF chief economist Kenneth Rogoff argues U.S. is on ‘knife edge’ with inflation.

Harvard economist Kenneth Rogoff joined “Mornings with Maria” to talk about “eye-popping” inflation wreaking havoc throughout the state in advance of the holiday period and the force on the Federal Reserve to get the U.S. again on monitor.

“I think we’re on a knife-edge” of where by inflation is going, Rogoff mentioned.

The former IMF main economist pointed out that there is a “50-50 probability or a very little considerably less” that the Fed is right and inflation is “momentary” if they adhere to as a result of on their method for curbing the surge.

Rising pains from the increase in prices has sparked uneasiness among the Us residents.

Adhering to a authorities report that highlighted the 6.2% spike in charges for individuals in Oct, the U.S. is at present viewing its greatest costs flare up