*U.S. STOCKS DECLINE FOR FIFTH DAY IN A ROW AS RECESSION FEARS TAKE HOLD 🇺🇸 🇺🇸
. Some are concerned that the tightening will ultimately tip the U.S. into a recession, and that fear was reinforced by comments on Tuesday from top Wall Street bankers.
JPMorgan’s CEO Jamie Dimon said inflation and rising interest rates would whittle away the savings people accumulated over the last couple of years and put pressure on the economy, with the possibility of a recession next year.at each of its last four meetings. Recent comments from Fed officials suggest rates will remain higher for longer than people had forecast.
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