J.P. Morgan slashes U.S. first-quarter GDP outlook to 1%
NEW YORK (Reuters) - J.P. Morgan on Friday more halved its previous estimate on U.S. economic growth in second quarter to 1.00% following data that showed a fall in durable goods orders in April
NEW YORK (Reuters) - J.P. Morgan on Friday more halved its previous estimate on U.S. economic growth in second quarter to 1.00% following data that showed a fall in durable goods orders in April.
The bank now sees it as basically a coin toss for the Federal Reserve to raise or cut interest rates, compared with its previous call for just a rate increase.
"We had previously expected the next move from the Fed would be a hike, albeit at the very end of our forecast horizon in late 2020," J.P. Morgan economist Michael Feroli wrote in a research note. "We now see the risks of the next move as about evenly distributed between a hike and a cut."
(Reporting by Richard Leong; Editing by Bill Trott)
This story has not been edited by Firstpost staff and is generated by auto-feed.
Pulitzer Prize-winning photojournalist Danish Siddiqui killed in Afghanistan: Politicans, journalists pay tributes
The Pulitzer prize winner, who was in Kandahar covering operations against Taliban, was killed when he was riding along with the Afghan Special Forces
Siddiqui had also covered the 2020 Delhi riots, COVID-19 pandemic, Nepal earthquake in 2015 and the protests in Hong Kong
Danish's photographs were not just documentation, but the work of someone who went down to eye-level, as they say in photographic parlance.