Chanticleer
Investors’ big worry from GDP data isn’t what you think
The March quarter GDP numbers suggest a whiff of stagflation in the air. But the real story is of surprising economic resilience.
When JPMorgan chief executive Jamie Dimon appeared at The Australian Financial Review Business Summit in March, he warned that too many investors were too relaxed about the prospect of a hard landing.
“The worst case of recession would be stagflation (weak growth and high inflation),” he said from New York. “That’s almost off the table if you look at people’s projections. I wouldn’t take it off the table yet.”
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