Experts Warn of Looming Recession and Market Deterioration

JPMorgan strategists have warned that the US is probably headed for a recession as the Federal Reserve faces a difficult task of slowing down the pace of interest rate hikes or plowing ahead to bring down resurgent inflation and risk amplifying damage to the economy. The bank's analysts referred to current challenges as a possible "Minsky moment," named after the American economist Hyman Minsky, who famously predicted that extended bull markets naturally end in epic and monumental collapses. The longest bull market in US history that began in 2009 only ended in 2020 because of the COVID-19 pandemic.