In an interview with CNN, JPMorgans Dimon says:

  • banking crisis has increase the chance of a recession
  • banking system is strong and sound
  • we are seeing people reduce lending a little bit, cut back a little bit and pull back a little bit

Today the US initial jobless claims came out weaker than expectations along with revisions going back in time. An adjustment of the seasonals is to blame as the Labor Department struggles with the impact from Covid.