Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Al Mayadeen's correspondent: The Lebanese Army is continuing its investigations and will later announce any information that does not affect the confidentiality of the investigation
Al Mayadeen's correspondent: It has not yet been determined whether the detainees belong to ISIS or another organization
Al Mayadeen's correspondent: Around 10 people of different nationalities, including Lebanese nationals, were detained
Al Mayadeen's correspondent: The Lebanese army arrested a number of people in the Matn area of Mount Lebanon with possession it has not disclosed
Gaza Civil Defense spokesman: We have strong indications that there are martyrs, injuries, and trapped people in the Salah al-Din area
Gaza Civil Defense spokesman: Citizens should avoid Salah al-Din Street because anyone who approaches it is at risk of being directly targeted
Gaza Civil Defense spokesman: Reality is that there is a very limited retreat of the vehicles, with the occupation forces providing cover undeer fire up to Salah al-Din Street
Gaza Civil Defense spokesman: Claims that the Israeli occupation has withdrawn from areas in the neighborhoods of al-Zaytoun, al-Tuffah, and al-Shujaiya are false
Hamas: The two delegations stressed that any negotiations must lead to the achievement of our people's goals and aspirations, foremost among which is ending the war and the complete withdrawal of enemy forces
Hamas: A delegation from the Hamas leadership, led by the head of the leadership council, Mohammad Darwish, met with an Islamic Jihad delegation, headed by its Secretary-General, Ziyad al-Nakhalah

JPMorgan chief: US to fall into recession within 6-9 months

  • By Al Mayadeen English
  • Source: Agencies
  • 11 Oct 2022 13:41
  • 1 Shares
3 Min Read

The Feds aggressively hiking interest rates doesn't seem to work.

  • x
  • JP Morgan CEO Jamie Dimon delivers a speech during the inauguration of the new French headquarters of JP Morgan bank in Paris, France June 29, 2021. (Reuters)
    JP Morgan CEO Jamie Dimon delivers a speech during the inauguration of the new French headquarters of JP Morgan bank in Paris, France June 29, 2021. (Reuters)

The chief executive of JPMorgan, Jamie Dimon, has predicted that the US economy will fall into recession within 6 to 9 months, citing a number of factors leading to this. 

In an interview with CNBC in London, Dimon posited that the Federal Reserve's strategy for dealing with inflation - which is running away from it - in addition to unknown effects of quantitative easing and consequences of the Ukraine war are all exacerbating the situation. 

“These are very, very serious things which I think are likely to push the US and the world - I mean, Europe is already in recession - and they’re likely to put the US in some kind of recession six to nine months from now,” Dimon said.

It is almost impossible, according to Dimon, to predict whether the coming recession will be severe and long, short, or moderate.

Dimon attempted to contain fears, saying that US consumers are perhaps in better shape to deal with a recession than the 2008 global financial crisis. 

See more: Americans concerned about their everyday purchases

Related News

What is Netanyahu smoking? Araghchi slams Israeli influence over US

Pentagon official assessment shifted US focus from Ukraine to China

US Treasury: Inflation causing great economic insecurity in US

Secretary of the US Treasury Janet Yellen remarked that inflation at home is causing a great sense of economic insecurity and that she hopes it does not become endemic - despite that experts have been warning that inflation may become rooted in the US economy.

"I think inflation has been running at unacceptably high rates, it is a huge issue for every American household, it's leading to a great sense of economic insecurity for Americans, and we don't want to see it become endemic," Yellen said in an event hosted by The Atlantic. 

Yellen said that she predicts inflation will come down next year, in addition to the country being vulnerable to supply chain shock which has come as a result of the war in Ukraine. 

In addition, Yellen said the Federal Reserve may not meet its 2% target for inflation next year, despite the interest rate hikes that the Fed has been implementing. 

"It may not happen by 2023 but I have full confidence in the Fed’s ability to bring it down," she said.

It is worth noting that the economic situation which is affecting the financial standpoints of American families and businesses is burdening US President Joe Biden's popularity, which will affect his chances of winning the midterm congressional elections which will take place in early November. 

Read next: Severe US recession may be unavoidable

  • United States
  • JPMorgan
  • US recession
  • Jamie Dimon

Most Read

Hezbollah SG reveals war details on Al Mayadeen for the first time

Hezbollah SG reveals war details on Al Mayadeen for the first time

  • Politics
  • 8 Jul 2025
Major ambush in Gaza kills 6 Israeli troops, injures dozens

Major ambush in Gaza kills 5 Israeli troops, injures 14

  • Politics
  • 8 Jul 2025
Israeli soldiers are seen in Beit Hanoun ahead of an operation by the al-Qassam Brigades, undated (Al-Qassam Brigades Military Media)

'Israel' on blast as media exposes report discrepancies in Gaza ambush

  • Palestine
  • 8 Jul 2025
Yemen Navy sinks ETERNITY C ship, shares footage of operation

Yemen Navy sinks ETERNITY C ship, shares footage of operation

  • Politics
  • 9 Jul 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
The Freedom Flotilla ship Handala as it departs for Gaza, where it aims to break the maritime blockade at a port in Syracuse, Sicily in southern Italy on July 13, 2025. (AFP)
Palestine

Freedom Flotilla's Handala departs Sicily in bid to break Gaza siege

The container ship CMA CGM Laperouse, left, docks at the Georgia Ports Authority's Port of Savannah, Sept. 29, 2021, in Savannah, Ga (AP)
Politics

US shipbuilding woes deepen as tariffs, outdated policies backfire

Gaza war raises ethical questions for ex-Obama, Biden officials
Politics

Mercenary firm tied to Gaza war crimes hires Obama-Biden PR operatives

'Israel' targets children in Gaza collecting water
Palestine

'Israel' strikes Gaza kids fetching water, blames it on 'malfunction'

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS