JPMorgan cuts US GDP forecast

JPMorgan Chase & Co economists cut their US economic forecasts for this year and next after judging that falling stock prices, higher mortgage rates and a stronger dollar relative to trading partners will weigh on the outlook.

Economists lowered their growth outlook for the second half of 2022 to a 2.4% rate from 3%, and for the first half of 2023 to 1.5% from 2.1%. –