Brace for a 'wrathful Old-Testament-style' central bank reaction to sticky inflation that could cause a deep US recession, says JPMorgan

• Prepare for a more forceful "Old-Testament style" central bank reaction to stubborn inflation, JPMorgan economists say. 
• "The risk of triggering a more wrathful Old-Testament style central bank reaction is on the rise," they said in a note. 
• Such aggressive policy reaction could lead the US economy into a deeper recession later this year, they added. 

Brace for more forceful policy action from developed-market central banks to stamp out inflation, according to JPMorgan. 

In a recent note, economists at the bank highlighted that monetary policymakers have recently slowed the pace of interest-rate hikes, seeking to balance their campaign to lower inflation with efforts to avoid a severe economic downturn.