Markets

Jamie Dimon tells shareholders he expects the coronavirus to cause a ‘bad recession’ and ‘financial stress similar to the global financial crisis,’ at a minimum

Jamie Dimon’s annual letter to JPMorgan shareholders was published Monday. In it, the bank’s CEO addressed the coronavirus pandemic and the impact it could have on the US economy and JPMorgan. The bank has stopped buybacks, but has not asked for regulatory relief, Dimon said. Watch JPMorgan trade live on […]
Jamie Dimon tells shareholders he expects the coronavirus to cause a ‘bad recession’ and ‘financial stress similar to the global financial crisis,’ at a minimum
Markets

‘Could have been worse’: Consumer confidence fell less than expected in March amid the coronavirus pandemic — but experts warn the pain is just beginning

The US consumer confidence index fell to 120 in March from 132.6 in February, The Conference Board said Tuesday. Consumer confidence has taken a hit amid the coronavirus pandemic and strict social-distancing measures. The March number was not as bad as economists expected, but many are calling for more economic […]
‘Could have been worse’: Consumer confidence fell less than expected in March amid the coronavirus pandemic — but experts warn the pain is just beginning
Markets

The coronavirus-induced recession could become a depression, PIMCO says

“Fiscal and monetary policy makers around the world will have to pull out all the stops to prevent what currently looks like an inevitable recession from turning into a depression,” Joachim Fels, an analyst at PIMCO, wrote in a note to clients Monday. A depression could send financial markets from […]
The coronavirus-induced recession could become a depression, PIMCO says