Economist sees 40 per cent US recession chance and risks to ‘exorbitant privilege’

There is about a 40 per cent chance of a US recession this year and a risk of lasting damage to the country’s standing as an investment destination if the administration undermines trust in US governance, according to J.P. Morgan’s chief economist.

“Where we stand now is with a heightened concern about the US economy,” Bruce Kasman, the US investment bank’s chief global economist, told reporters in Singapore on Wednesday.