In recent weeks, much of Wall Street's cult players have expressed their concerns about the next market correction. It is time for JP Morgan to take sides.
According to Daniel Pinto, deputy director of the bank the next market adjustment will be up to 40%. His comments come amid the investors' concerns raised by rising interest rates in a period of rising inflation. Pinto said the markets are very nervous and if Trump continues to "burn wicks" and the Fed does not take this into account, the bears will very quickly take over.
Jamie Dimon, Chief Executive Officer of JP Morgan, has also expressed concern about Trump's tariffs. "If Trump continues to worsen international relations, it will seriously damage the country's investment and growth, which will largely offset the positive effects of tax reform," Dimon said.
Source: Bloomberg Pro Terminal
Jr Trader Petar Milanov
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