Jimmy Damon says the recession is a “possible result” of Trump’s introductory disorder

Jpmorgan Chase CEO Jimmy Damon He said on Wednesday that he believes that the American economy is likely to go to recession as President of Donald Trump’s tariff Roel Financial Markets.

With the increasing trade war between the United States and China, The stocks and bonds were sold strongly Again in the morning trade. Futures declined in the stock market and bond revenues increased amid concerns about the financial and economic stability brought by the exchange between the two countries.

“I think (the recession) is a possible result,” Damon said.

The recession fears were rising in Wall Street, as the customs tariff stimulated Trump’s uncertainty about the escalation of the trade war.

In the latest development, China said it would slap a tariff of 84 % On all American goods, an increase of 50 percentage points from the previous level, as the duties of the United States enter all over the world. Dow futures were more than 800 points, while treasury revenue increased for 10 years, approximately 20 basis points, or 0.2 percentage points.

Jpmorgan Economists expect US GDP to contract 0.3 % This year, a light stagnation invitation but after a strong year to grow.

“The markets are not always right, but sometimes they are right.” “I think this time is right because they are just pricing uncertainty (in) the level of macro and uncertainty (in) at the partial level, at the actual level of the company, then how this affects the feelings of the consumer. It is difficult to know that.”

In the past, Damon was a supporter of definitions.

During an interview with CNBC at the World Economic Forum in Davos, Switzerland, the executive authority said people It must be “over” with regard to the definitions He said a little inflation is worth it to maintain national security.

On Wednesday, the United States encouraged contract deals with its trading partners with a market reaction warning may get worse if it does not happen.

“Take a deep breath, negotiate some commercial deals. This is the best thing they can do,” he said. “I take a calm view. But I think it may get worse if we don’t make some progress here.”

Separately, Damon the Senate encouraged the confirmation of the Federal Reserve Governor Michelle Bowman as vice -president of supervision, and director of the banking and financial system. Bowman is a confirmation session on Thursday.

Correction: A previous version contains quotes of poor distribution to Jimmy Damon.