Others sounding alarms in the before-lunch times included:

JPMorgan Chase CEO Jamie Dimon, who wrote in his annual letter to shareholders released Monday that Trump’s tariffs “will likely increase inflation and are causing many to consider a greater probability of a recession.” On Tuesday he told Fox News he expected a recession and higher loan defaults as the result of the tariffs.
An April 3 report from the outplacement and consulting firm Challenger, Gray & Christmas, which found companies’ hiring plans fell from 34,580 in February to 13,198 in March. In the first quarter, companies planned to hire 53,867 workers, down 16% from a year earlier. “It is the lowest Q1 hiring total since 2012 when 52,540 new hiring plans were announced.”
A report Monday from Morningstar, which said the chances have risen for higher inflation and the “recession risk has vaulted, standing at perhaps 40%-50% over the next 12 months. But a recession can be purely short-run pain. If the tariffs hikes are maintained, they will permanently reduce US real GDP and hence real living standards for the average American.”

“Uncertainty among businesses and consumers is reaching a fever pitch, which will weigh on spending independently of the direct impact of the tariffs,” the Morningstar report said. “Because of that, the contraction in demand could actually exceed the disruption to supply (in the short run), making the tariff shock more recessionary than inflationary.”

Instant Insights /

More Analysts Were Predicting Recession Before Trump Delayed Some Tariffs

Related Stories

Recommended For You