JPMorgan upped the likelihood it sees for the U.S. economy entering a recession this year, the latest sign of concern around the country’s financial health following the market turbulence this week. The bank raised its probability for a U.S. or global recession to 35% by year end, chief global economist Bruce Kasman told clients in a Wednesday note. That’s up from the 25% figure shared in the bank’s midyear outlook. Meanwhile, JPMorgan kept its odds for a recessionary period by the second half of 2025 at 45%. The move comes as investors have questioned in recent days if an economic slowdown is imminent after last week’s disappointing jobs report. But traders got better news on the labor market front on Thursday, with the volume of weekly jobless claims coming in lower than economists expected. Kasman pointed to a
