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JP Morgan: Recession Now More Likely; Average American Now Carrying Over $6300 in Credit Card Debt | Business Matters Full Broadcast (August 8)
JP Morgan now raising the odds of a recession by the end of this year to 35-percent. That’s up from 25-percent. The news comes after a weaker than expected July jobs report and the sharp sell-off in global equities over the unwinding of the yen-funded carry trades.
American budgets are being stretched. A new report shows the average credit card balance is more than $6,300 and more are falling behind on payments.
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JP Morgan now raising the odds of a recession by the end of this year to 35-percent. That’s up from 25-percent. The news comes after a weaker than expected July jobs report and the sharp sell-off in global equities over the unwinding of the yen-funded carry trades.
American budgets are being stretched. A new report shows the average credit card balance is more than $6,300 and more are falling behind on payments.