U.S. wage inflation is now slowing in a manner not seen in other DM [developed market] economies...Easing labor market conditions increase confidence both that service price inflation will move lower and that the Fed's current policy stance is restrictive.
JPMorgan Chase CEO Jamie Dimon doubled down on the prediction...saying he thinks a recession could be looming...There's a lot of uncertainty out there...all these things cause some consternation in markets.
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