JPMorgan Chase raises this year's global economic recession forecast to 60%

Bruce Kasman, Chief Economist at JPMorgan Chase, stated that if the Trump administration's tariffs on U.S. trade partners continue, it could potentially push the U.S. and even the global economy into recession by 2025. In a statement on Thursday, Kasman said: "The risk of a global economic recession this year has increased from 40% to 60%." He claimed that these tariffs are the largest tax increase on American families and businesses since 1968. He also indicated that the impact of this tax hike is likely to be amplified through retaliation, declining business sentiment, and disruptions in supply chains.