【CNBC】JPMorgan backs off recession call even with ‘very elevated’ risks

• JPMorgan Chase economists on Friday bailed on their recession call.
• “Given this growth, we doubt the economy will quickly lose enough momentum to slip into a mild contraction as early as next quarter, as we had previously projected,” the bank’s lead economist said.
• Michael Feroli added that risk is not completely off the table. Specifically, he cited the danger of Fed policy that has seen 11 interest rate hikes implemented since March 2022.

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