JPMorgan warns food inflation could double by 2027
JPMorgan Chase flags that global food inflation could double by 2027, citing potential Strait of Hormuz shipping disruptions and a possible historic El Nino event affecting crop yields.
This week, the global market was abuzz with news from JPMorgan Chase & Co. (NYSE: JPM ), the U.S.
Treasury, and prominent figures like Scott Bessent and Jim Cramer.
Here’s a quick recap of the top stories from the week.
JPMorgan Predicts Global Food Crisis By 2027 JPMorgan has issued a warning that global food inflation could double by 2027.
The bank’s report, led by senior global economist Nora Szentivanyi, cites potential shipping disruptions in the Strait of Hormuz and a possible historic El Nino event as factors that could weaken global crop yields and constrain agricultural production.
Read the full article here.
Scott Bessent’s Budget Deficit Forecast Scott Bessent, the Treasury Secretary, has indicated that there is a “very good chance” the U.S. budget deficit under President Donald Trump has peaked.
Bessent, in an interview with CNBC, also suggested that the federal government leaders are working on fiscal consolidation measures that could potentially save several hundred billion dollars.
Read the full article here.
Jim Cramer’s Reality Check On Stock Market Jim Cramer, the CNBC commentator, has highlighted a growing disconnect between the stock market and the underlying economy.
Cramer, while expressing his concerns from the construction site of Micron Technology Inc. ‘s (NASDAQ: MU ) new semiconductor fabrication plant, pointed out the resilience of certain sectors of the economy despite stock market worries.
Read the full article here.
Treasury Doubles Long-Bond Buybacks The U.S.
Treasury has decided to double the maximum size of its liquidity-support buybacks for long-dated bonds.
This decision comes at a time when long-term yields are approaching levels last seen nearly two decades ago.
Read the full article here.
Thomas Massie’s Debt Interest Warning Rep.
Thomas Massie (R-Ky.) has raised concerns about the growing burden of interest payments on the national debt.
Massie attributes this to policies he opposed in Congress, a stance that he believes cost him his re-election bid.
Read the full article here.
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