JPMorgan lowers recession probability after Trump's tariff truce with China
1. JPMorgan lowered recession probability to below 50% due to tariff reduction. 2. New forecast shows GDP growth at 0.6%, up from 0.2%. 3. PCE index projected at 3.5%, influencing Fed's rate cut decisions. 4. Lower tariffs intended to boost consumer spending, aiding economic growth. 5. Tariff rollback is viewed as nearly $300 billion tax reduction.