JPMorgan CEO Jamie Dimon warns of an economic “hurricane” on the horizon as the Federal Reserve scrambles to wind back Covid-era policy in a bid to rein in inflation. Recession fears weigh on U.S. markets on the first day of June trading. U.S. Treasury Secretary Janet Yellen tells CNBC that the White House is working on various fronts to bring inflation down. Crude prices fall following reports that Saudi Arabia could be ready to boost production should sanction-hit Russian oil decline. Meta COO Sheryl Sandberg is to step down after 14 years with the Facebook parent company. She will be replaced by Meta’s chief growth officer Javier Olivan this autumn.  

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