‘Already past the point of no return’: JPMorgan says the U.S. is probably headed for a recession as economic ‘engines are about to turn off’

The economy could be nearing a “Minsky moment” and a long overdue economic downturn.
BY Tristan Bove…A series of banking crises this month headlined by the failure of Silicon Valley Bank has forced analysts from multiple banks, including JPMorgan Chase, to rewrite their recession forecasts from scratch, as months of small victories against inflation and a relatively strong economy were potentially swept away in under two weeks.