JPMorgan Chase CEO Jamie Dimon on Monday warned that a “very, very serious” mix of headwinds was likely to tip both the U.S. and global economy into recession by the middle of next year.
US economy will soon start losing 175,000 jobs a month, Bank of America warns
The Federal Reserve’s fight to squash inflation will cause the US economy to start losing tens of thousands of jobs a month beginning early next year, Bank of America warns.
Rivian shares skid after EV maker recalls nearly all vehicles
Shares of Rivian Automotive Inc fell about 9% on Monday after the electric-vehicle maker recalled nearly all its vehicles, exacerbating investor concerns that the company may not be able to meet its 2023 production target.