🚀 Jamie Dimon Warns of Recession Risk

Market Overview
Read time 1.6 minutes

Year To Date Performances:

1. Jamie Dimon, in a recent TV interview, cautioned against underestimating the possibility of a US recession. He suggested the Federal Reserve should hold off on cutting interest rates due to the uncertain economic outlook. Dimon pointed out that the current chances of achieving a soft landing are slimmer than many believe, highlighting stagflation as a potential worst-case outcome. He remarked that the reliability of economic data has been compromised by the Covid-19 pandemic, recommending that the Fed waits for more definitive indicators before lowering rates. This represents a shift from Dimon's previously more optimistic perspective on the US economy, especially in light of Federal Reserve Chair Jerome Powell's recent suggestions that rate cuts, aimed at achieving a stable 2% inflation rate, could be on the horizon.

2. Inflation edged up in February, nudging the Federal Reserve towards delaying interest rate cuts until later in the year. The Consumer Price Index (CPI) increased by 0.4% monthly and 3.2% annually, slightly above expert anticipations, as reported by the Labor Department's Bureau of Labor Statistics. Excluding the volatile sectors of food and energy, the core CPI also rose by 0.4% over the month, indicating a persistent inflationary trend slightly above forecasts. This uptick, although lower than the mid-2022 peak, remains significantly above the Fed's target of 2%, with increases in energy and shelter prices contributing heavily to the inflationary pressure. The data implies that the Fed might maintain a cautious stance on adjusting monetary policy, especially in light of the economy's robust performance and a strong labor market, despite the ongoing challenges of managing above-target inflation.

3. Visa and Mastercard agree to historic $5 Billion Settlement! In a groundbreaking move for the payment industry, Visa and Mastercard have come to a historic $5 billion settlement, marking a pivotal moment for small business owners. If you are a small business owner, claim your share today!*

4. Headlines

   1. Boeing has failed another safety inspection on its 737 Max jet production.

   2. Homebuyers need a salary 80% higher today than they did 4 years ago to qualify for the same mortgage (measured by size of principal).

   _{* This is sponsored content.}

Are you looking to grow your business? Here is how I can help:

📢 Promote your startup to 2,000+ VCs including investors from a16z, YC, Techstars, Rarebreed, Sequoia and more.

📱 Book a Strategy Call to get 1:1 feedback on your pitch, pitch deck and/or fundraising strategy. (If you need general startup advice, then reply to this email, and I’ll let you know if/how I can help.)

📺 Access FundraiseOS, the ultimate fundraising course with video lessons and practical worksheets helping with everything from deciding how much to raise to understanding a term sheet.

💸 Promote your product or service to 100,000+ entrepreneurs.

🌐 Connect with me on LinkedIn or X (formerly Twitter) to get access to new content about startups, fundraising, venture capital, and more every day.

Liam’s Exclusive Partner Discounts^*:

• Startups get six months free of Zendesk's industry-leading customer support solution that's scalable and easy to use.

• Get 20% off Keap's automated sales and marketing solutions, tailored to boost business growth with automation tools and coaching.

• Get 40% off Mobly's lead capture app that enriches data and pushes to your CRM instantly for their first year, worth up to $3,000 in savings.

* This is sponsored content. 

Onwards and Upwards,

Liam Gill