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Jamie Dimon says a recession is ‘likely outcome’ from Trump’s tariff turmoil

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JPMorgan Chase CEO Jamie Dimon said Wednesday he sees the U.S. economy likely headed to recession as President Donald Trump’s tariffs roil financial markets.

With the trade war between the U.S. and China intensifying, stocks and bonds sold off aggressively again in morning trade. Stock market futures slumped and bond yields spiked amid concerns over financial and economic stability brought on by the tit-for-tat exchange between the two nations.

“I think probably that’s a likely outcome, because markets, I mean, when you see a 2000-point decline [in the Dow Jones Industrial Average], it sort of feeds on itself, doesn’t it,” Dimon said on Fox Business’ “Mornings With Maria” show. “It makes you feel like you’re losing money in your 401(k), you’re losing money in your pension. You’ve got to cut back.”

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Economics

Donald Trump’s new travel ban is coming into effect

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THE EXECUTIVE order banning travel from 12 countries, which comes into effect on June 9th, is more methodical than previous iterations. In his first batch of executive orders, issued on January 20th, President Donald Trump directed several top advisers to compile a list of countries with insufficient screening standards for potential migrants, which they considered to be a national-security risk. The order warned that people from these countries could be barred from coming to America. It was a signal that Mr Trump intended to resurrect the travel ban, one of the most controversial immigration policies of his first term.

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Economics

Sending the National Guard to LA is not about stopping rioting

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DONALD TRUMP is making good on his threats. During his presidential campaign and first few months in office the president and his advisers suggested that they would retaliate against cities that resist the mass deportation of illegal immigrants. On June 7th Mr Trump ordered at least 2,000 National Guard troops to Los Angeles to quell protests that had taken place across the region for two days following several immigration raids, and the disorder that followed. The move is ostensibly meant to restore peace. But it is also a thinly-veiled message to Democratic-run places that retribution awaits those who would stand between immigrants and the administration’s deportation machine.

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Economics

Donald Trump has many ways to hurt Elon Musk

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THERE WAS a time, not long ago, when an important skill for journalists was translating the code in which powerful people spoke about each other. Carefully prepared speeches and other public remarks would be dissected for hints about the arguments happening in private. Among Donald Trump’s many achievements is upending this system. In his administration people seem to say exactly what they think at any given moment. Wild threats are made—to end habeas corpus; to take Greenland by force—without any follow-through. Journalists must now try to guess what is real and what is for show.

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