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JPMorgan Chase & Co.’s traders posted their highest-ever quarterly revenue in the first three months of the year, with record stock-trading results boosting the total past the firm’s previous record by almost $2 billion.
This commentary examines the potential outcomes of oil shocks on the economy, discussing factors that differentiate recession-inducing shocks from those that economies can absorb. It highlights variables such as the duration of the disruption, pre-existing inflation conditions, monetary policy responses, energy intensity of the economy, and the U.S. net energy position, providing insights into how these factors influence the economic impact of oil price increases.
The U.S. trade deficit expanded nearly 5% in February to $57.35 billion, with imports increasing by 4.3% and exports by 4.2%. The latest reading missed the forecast of $60.50 billion.