JPMorgan Chase raises its forecast for a global recession this year to 60%

Planet Daily News: Morgan Stanley's chief economist Bruce Kassman stated that if the tariffs imposed by the Trump administration on U.S. trading partners continue, they could push the U.S. and even the global economy into a recession by 2025. Kassman said in a statement on Thursday: "The risk of a global economic recession this year has increased from 40% to 60%." He called the tariffs the largest tax increase on U.S. households and businesses since 1968. He also said that the impact of this tax increase is likely to be amplified through retaliation, declining business sentiment, and supply chain disruptions. (Jinshi)