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Traders work on the floor of the New York Stock Exchange (NYSE)
Traders work on the floor of the New York Stock Exchange (NYSE)

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  • The economy will be on the brink of a downturn for the next two years, according to JPMorgan's David Kelly.
  • Kelly said high interest rates were slamming economic activity, and growth was more sluggish than it appeared.
  • But he predicted inflation will return to 2% by 2024.

The US economy is much weaker than the data suggest and will be on the verge of a downturn for years, according to JPMorgan Asset Management chief strategist David Kelly.

Tags
Markets, MI Exclusive, US economic outlook, Recession, recession prediction, Fed, Inflation, 2% inflation, Interest Rates, interest rates outlook, rising interest rates, falling inflation, Economic Downturn, JPMorgan
Source
The US economy will be on the verge of recession for the next two years, JPMorg…