JPMorgan, Goldman Sachs Hike Recession Odds on ‘Extreme’ Trump Policies Amid Crypto, Stock Market Crash
JPMorgan and Goldman Sachs have raised the odds of a recession in the US, the former citing Donald Trump’s “extreme” policies as the crypto and stock market crash. The capitalization of the digital asset market plummeted over 3% in the last 24 hours, with Bitcoin briefly tumbling below $80K. Meanwhile, the US stock market shed more than $1.7 trillion in value after President Donald Trump declined to rule out the possibility of a recession this year. JPMorgan Raises Recession Odds To 40% As Trump keeps the possibility of a recession this year open, economists at JPMorgan have increased the odds of a recession to 40%, from 30% previously. “We see a material risk that the US falls into recession this year owing to extreme US policies,” the analysts said. Goldman Sachs analysts are also bearish, raising their probability of a recession in the next 12 months to 20% from 15% previously. The analysts warned that the odds of a recession will likely conti...