JP Morgan predicts 2025 recession as Trump tariffs rattle market

J.P. Morgan is forecasting that the U.S. economy will enter a recession this year as fallout from President Trump's tariffs has taken hold.

In a Friday evening note to investors, the company's chief U.S. economist Michael Feroli said the firm predicts that gross domestic product (GDP) will likely contract "under the weight of the tariffs."

Feroli added that the recession is also forecasted to "push the unemployment rate up to 5.3 [percent]."

The projection comes after Trump’s Wednesday tariff announcement...