Will the US go into a recession? A recession in the U.S. economy may occur by mid-2023. This was stated by the CEO of JPMorgan.

“At the moment, the U.S. economy is actually still fine. A recession in the U.S. could come by the middle of next year,” Dimon said.

Consumers are in a better position now than they were during the financial crisis in 2008, he said. He added that inflation, rising interest rates and geopolitics are warning signs for the economy.

Earlier on Tuesday, Mohamed Ali El-Erian, an adviser to German insurance company Allianz, said the country’s Federal Reserve made a mistake that could lead to a recession. According to the analyst, the regulator did not react to inflation in time, considering it temporary. He also spoke negatively about the key rate increase by 75 basis points in September – up to the level of 3-3.25% per annum.

Earlier, former U.S. Treasury chief Lawrence Summers and World Bank and International Monetary Fund official Masoud Ahmed said that a significant slowdown in the global economy was almost inevitable.

Earlier we reported that the S&P 500 Index could fall another 20%.