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JPMorgan Chase Raises Recession Odds in US in 2024
![JPMorgan Chase Raises Recession Odds in US in 2024 JPMorgan Chase Raises Recession Odds in US in 2024](https://articles.entireweb.com/wp-content/uploads/2024/08/JPMorgan-Chase-Raises-Recession-Odds-in-US-in-2024.jpg)
As the U.S. economy continues to remain volatile, JPMorgan Chase is warning that a recession is not off the table.
In an analyst note published Wednesday, economists at JPMorgan raised the odds of a recession this year from 25% to 35%, noting there’s also a 45% chance of a recession in the second half of 2025.
Related: Stock Market Tumbles After Global Selloff as Investors Panic Over Jobs Report, Economic Indicators
“U.S. wage inflation is now slowing in a manner not seen in other DM [developed market] economies,” the note said. “Easing labor market conditions increase confidence both that service price inflation will move lower and that the Fed’s current policy stance is restrictive.”
The note also said the bank believes the odds of the Federal Reserve will cut rates in September and November 2024.
JPMorgan Chase CEO Jamie Dimon doubled down on the prediction in an interview with CNBC, saying he thinks a recession could be looming.
Related: Jamie Dimon’s Policy Advice for Donald Trump, Kamala Harris
“There’s a lot of uncertainty out there. I’ve always pointed to geopolitics, housing, the deficits, the spending, the quantitative tightening, the elections, all these things cause some consternation in markets,” he said. “I’m fully optimistic that if we have a mild recession, even a harder one, we would be okay.”
The bank’s predictions came after last week’s jobs report where the unemployment rate reached 4.1% in June.
It’s been a volatile week for the Dow, S&P 500, and Nasdaq due to heightened concerns about the U.S. economy.
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This Office and Windows 11 Pro Bundle Can Really Amp up Productivity
![This Office and Windows 11 Pro Bundle Can Really Amp up Productivity This Office and Windows 11 Pro Bundle Can Really Amp up Productivity](https://articles.entireweb.com/wp-content/uploads/2024/08/This-Office-and-Windows-11-Pro-Bundle-Can-Really-Amp.jpg)
Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.
No matter where you are in your business journey, having the right tools can make all the difference in productivity and growth. However, investing in top-tier software doesn’t have to break the bank.
With this terrific all-in-one bundle, you can get Microsoft Office 2019 Pro Plus for Windows and Microsoft Windows 11 Pro for just $45.97 (reg. $428) through September 3. This package offers everything you need to streamline your operations, boost productivity, and stay secure with the latest in AI-driven updates and security features.
Power up productivity.
Microsoft Office 2019 Pro Plus is packed with all the essential productivity tools your business needs. From creating polished documents in Word and analyzing data in Excel to designing impactful presentations in PowerPoint and managing communications with Outlook, this suite has you covered.
It’s a one-time purchase, meaning you can enjoy lifetime access without worrying about recurring subscription fees. While it might not be the latest Office version out there, it still offers the productivity support and functions millions rely on worldwide.
A modern OS with the latest updates.
Windows 11 Pro is designed to keep your business on the cutting edge with its latest security features and AI-driven updates. The OS offers enhanced protection against cyber threats, improved performance, and a sleek, user-friendly interface. It’s built to support modern work environments, whether your team is working remotely, in-office, or a hybrid of both.
The new AI assistant, Copilot, can help you streamline your work by summarizing documents, changing settings, and much more. And the latest AI enhancements can also be seen elsewhere, like in the Paint app, which makes it easy to remove backgrounds from images and other tools.
For small businesses and startups, every dollar counts. Don’t miss this dynamic bundle that has 5/5 stars online.
Order your All-in-One Microsoft Office Pro 2019 for Windows Lifetime License and Windows 11 Pro Bundle for $45.97 (reg. $428) through September 3.
StackSocial prices subject to change.
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Nvidia, California Team Up on AI Training Initiative, Labs
![Nvidia, California Team Up on AI Training Initiative, Labs Nvidia, California Team Up on AI Training Initiative, Labs](https://articles.entireweb.com/wp-content/uploads/2024/08/1723713965_Nvidia-California-Team-Up-on-AI-Training-Initiative-Labs.jpg)
California wants to equip its workforce with AI skills by partnering with Nvidia on training across the state. The AI chip giant is headquartered in Santa Clara and is currently the third most valuable company in the world.
California Governor Gavin Newsom and Nvidia CEO Jensen Huang announced the “first-of-its-kind” partnership that will focus on training students in AI, creating jobs, and using AI to solve real-world problems.
“Together with California, Nvidia will train 100,000 students, college faculty, developers, and data scientists,” Huang stated, adding that the aim was “to prepare California for tomorrow’s challenges” and “unlock prosperity.”
The partnership brings AI workshops, labs, curriculum, certifications, and technology from Nvidia to community colleges. Individuals have the opportunity to enhance their careers through these efforts.
The state of California benefits from a pipeline of AI talent and will explore how it can nurture early-stage AI startups through the effort.
“We’re in the early stages of a new industrial revolution that will transform trillion-dollar industries around the world,” Huang stated.
Nvidia founder and CEO Jensen Huang talks next to a robot. Credit: JOSH EDELSON / AFP
AI has helped reduce repetitive tasks and streamline communication, say company leaders. A recent Microsoft study found that even though employers are looking for candidates with AI skills, only 39% have provided AI training for existing employees. And the majority of AI use in the office is secretive, with 78% using AI tools at work “without guidance or clearance from the top.”
At the same time, it’s expensive to create AI: One model could cost $100 million today and tens of billions of dollars in the next few years. AI could also drive energy emissions up, as seen by Google’s July environmental report.
Despite AI’s drawbacks, it could have a positive impact in California through the new partnership. California is the most populated state in the nation, with over 39 million residents. California’s unemployment rate hit 5.3% in February; as of June, there were 999,897 people unemployed in the state.
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Musk, Trump Hit With Federal Labor Charges Over Livestream
![Musk, Trump Hit With Federal Labor Charges Over Livestream Musk, Trump Hit With Federal Labor Charges Over Livestream](https://articles.entireweb.com/wp-content/uploads/2024/08/Musk-Trump-Hit-With-Federal-Labor-Charges-Over-Livestream.jpg)
The livestream on X with former President Donald Trump and billionaire Elon Musk has more issues, and this time it isn’t just technical.
The United Auto Workers union filed federal labor charges against Trump and Musk that allege two men attempted to “threaten and intimidate” workers on the X Spaces livestream who wished to participate in “protected concerted activity, such as strikes.”
Related: Elon Musk Praises Tesla EVs to Donald Trump in X Livestream
During the conversation, which the UAW called “rambling, disorganized” and “illegal,” Trump advocated for the firing of workers who went on strike.
“I look at what you do, you walk in, you say, ‘You want to quit?’ They go on strike,” Trump told Musk via livestream. “I won’t mention the name of the company, but they go on strike and you say, That’s OK, you’re all gone.”
The UAW noted in its lawsuit that under federal law in the U.S., employees cannot be fired solely for going on strike and that an employer threatening to let them go for that reason is violating workers’ rights under the National Labor Relations Act.
Related: Elon Musk Blames Cyberattack for Trump’s X Livestream Delays
“Both Trump and Musk want working class people to sit down and shut up, and they laugh about it openly,” UAW President Shawn Fain said in a release for the organization. “It’s disgusting, illegal, and totally predictable from these two clowns.”
In 2022, after Musk took over Twitter (now X), he initiated mass layoffs, letting go of thousands of employees and senior leadership following his acquisition of the company. In May, Musk fired Tesla’s entire Supercharger team after one executive tried to push back against more layoffs.
The UAW, which is based in Michigan, currently represents over 40,000 autoworkers and formally endorsed Democratic Presidential nominee Kamala Harris earlier this month.
Trump and Musk have not yet commented on the charges.
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