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‘Deficits which basically aren’t going to go away as far as the eye can see,’ JPMorgan CEO Jamie Dimon said, while warning of stagflation.
An analyst warned the US could be entering ’stagflation' territory.
Another continuing resolution is one more step on the road to perdition for the US economy.
Tiff Macklem says the budgetary balance is ‘little changed’ relative to what it was in the budget earlier this year.
Dimon’s warning that businesses and investors aren’t prepared for rates to go to 7 percent feeds into a broader concern of a possible recession.
