Mike Bell, a global market strategist at J.P. Morgan Asset Management, said it was clear that U.S. growth will fade in 2019, while presenting the bank’s “Guide to Markets” at an event in London on Wednesday. The bank believes that the positives from the fiscal stimulus messages of last year will subside, which, coupled with the trade war, will add pressure to the economy.
By year-end U.S. growth is set to be below 2 percent “but in the near term a recession still looks unlikely,” Ward said in the research.
Other strategists have said the U.S. economy could even enter a technical recession if Trump does not fix the ongoing impasse on trade with China.
“If there is a recession and a crash, it is Trump’s decision, because he has made a crucial mistake here of closing the government. At the same time he hasn’t resolved China,” Michael Harris, founder of Cribstone Strategic Macro, told CNBC’s “Squawk Box Europe” on Monday.
“If (Trump) doesn’t resolve China, he is asking for a recession, I think that’s a given because you can’t have two major uncertainties at the same time,” Harris added.