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JPMorgan chief Jamie Dimon sounded the alarm on a possible recession, warning Wall Street to prepare for the threat of rising interest rates even as inflation slows.

A lot of things out there are dangerous and inflationary. Be prepared, Dimon said at the New York Times DealBook Summit in New York on Wednesday.

Interest rates may go up and that might lead to recession,” he added, according to CNN Business.

Dimon’s comments suggest that he doesn’t forecast a rate cut following the next two-day Federal Open Market Committee meeting on Dec. 11 and 12.

Federal Reserve officials have unanimously decided to keep the benchmark federal funds rate at its current 22-year high, between 5.25% and 5.5%, for the past two policy meetings with little indication that theyll slash interest rates moving forward.

Fed Chair Jerome Powell even reiterated during his closely watched speech during the International Monetary Funds policy panel in Washington, DC, earlier this month: “If it becomes appropriate to tighten policy further, we will not hesitate to do so.”

Economists have been divided on what central bankers’ next move is — and whether it means the US economy is in for a soft landing, which will see it skirting a recession, or a hard landing.

“Im cautious about the economy,” Dimon said, per CNN.

The 67-year-old investment banking boss also noted that “inflation is hurting people,” and in a moment of positivity, pointed to the resilient labor market.

Representatives for Dimon at JPMorgan declined to comment.

Economists have cited October’s weaker-than-expected jobs report — when the Bureau of Labor Statistics reported that the US economy added 150,000 positions — as a signal that an interest rate cut is forthcoming.

The unemployment rate is now 3.9%, the agency said, above the Feds 3.8% year-end forecast.

Inflation has also trended weaker than central bankers estimates as Americans see some reprieve from the Feds aggressive tightening cycle, which began in March 2022, when rates were between 0.25% and 0.5%.

By June of last year, inflation peaked at 9.1% and rates have since increased at a pace not seen in 40 years.

The Fed hasn’t cut interest rates in over a year despite falling inflation, which slowed to 3.2% in October, according to the Consumer Price Index, which tracks changes in the costs of everyday goods and services.

The figure marked a drop from Septembers 3.7% advance, though it remains well above the Fed’s 2% inflation target, which the US economy hasnt seen since 2012.

In an interview with Bloomberg TV last month, Dimon suggested that Americans are in for an interest-rate hike as steep as 1.5 percentage points, to a staggering 7%, which would mark the highest federal funds rate sine December 1990.

Dimon’s warnings of a recession echo those of hedge fund titan Bill Ackman, who said just this week that the Fed needs to slash interest rates as early as the first quarter in order to avert a real risk of a hard landing for the US economy.

Ackman told Bloomberg that if the Fed keeps rates around the 5.5% range while inflation trends below 3%, thats a very high real rate of interest.

Whats happening is the real rate of interest, which is what impacts the economy, keeps increasing as inflation declines, said the Pershing Square Capital Management founder.

I think theres a real risk of a hard landing if the Fed doesnt start cutting rates pretty soon, Ackman added, per Bloomberg, noting that hes seen evidence of a weakening economy.

Traders, however, arent fully pricing in a rate cut until the end of 2024s second quarter, in June, Bloomberg reported, citing swaps market data.

The chance of a cut happening in May is some 80%, the data showed.

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Stars rule forward Hintz out for Game 3 vs. Oilers

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Stars rule forward Hintz out for Game 3 vs. Oilers

EDMONTON — Dallas forward Roope Hintz has been ruled out for Game 3 of the Stars’ Western Conference finals series against the Edmonton Oilers on Sunday.

Hintz was a game-time decision for Dallas after leaving the third period of Game 2 on Friday with an injury. The center took a slash from Edmonton defenseman Darnell Nurse less than four minutes into that final frame and was helped off the ice without appearing to put weight on his left leg.

Stars’ coach Pete DeBoer said on Saturday they were awaiting test results on Hintz before determining his status for Game 3. Hintz travelled with the team from Dallas and arrived at Rogers Place on Sunday without wearing a walking boot.

DeBoer still declared Hintz’s status uncertain about an hour before puck drop. Hintz took warmups with the Stars before Game 3 but left several minutes early without participating in line rushes.

Hintz has five goals and 11 points in 15 postseason games and ranked fourth on the Stars in regular-season scoring with 28 goals and 67 points in 76 games.

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Hurricanes: ‘Tough look’ not sticking up for Aho

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Hurricanes: 'Tough look' not sticking up for Aho

FORT LAUDERDALE, Fla. — The Carolina Hurricanes regretted not sticking up for star center Sebastian Aho when he was mauled by Florida Panthers winger Matthew Tkachuk late in their Game 3 loss on Saturday night.

In the third period, with the Panthers cruising to a 6-2 win and a 3-0 lead in the Eastern Conference finals, Tkachuk went after Aho with a series of shoves and cross-checks, eventually putting him in a headlock and bringing him down to the ice. The incident was seen as retaliation for Aho’s low hit on Florida’s Sam Reinhart that injured him in Game 2 and kept the forward out of the lineup on Saturday.

“I don’t really look at it as intent or intimidation at all. It’s just sticking up for teammates,” said Tkachuk, who was given a roughing penalty and a 10-minute misconduct. “We’re a family in there. It could happen to anybody and there’s probably 20 guys racing to be the guy to stick up for a teammate like that. That’s just how our team’s built. That’s why we’re successful. I don’t think any of us would be thrilled at that play in Game 2.”

But while Tkachuk was on top of Aho, who remained in the game, there was no chaotic response from the Hurricanes, nor any retaliation for the rest of the game. Carolina forward Taylor Hall said, in hindsight, there needed to be some reaction.

“I think what happened is that we don’t want to take penalties after the whistle, and they’re very good at goading you into them. But we have to support each other and make sure all five of us are having each other’s backs,” Hall said. “That was a tough look there, but we’ll battle for each other to no end.”

Coach Rod Brind’Amour said there needed to be a response, especially since the game was all but over on the scoreboard

“In that situation, there probably does. There’s a fine line. You don’t want to start advocating for that kind of hockey, necessarily. But with the game out of hand, yes, we have to do a better job of that with the game out of hand,” he said.

The Hurricanes face elimination on Monday night in Sunrise. They also face a 16th straight loss in the Eastern Conference finals, a streak that stretches back to 2009.

“We’re going to give our best tomorrow,” Hall said. “I think that we have a belief in our room, honestly. We’re playing for our season.”

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Horse trainer Clement dies from rare eye cancer

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Horse trainer Clement dies from rare eye cancer

Christophe Clement, who trained longshot Tonalist to victory in the 2014 Belmont Stakes and won a Breeders’ Cup race in 2021, has died. He was 59.

Clement announced his own death in a prepared statement that was posted to his stable’s X account on Sunday.

“Unfortunately, if you are reading this, it means I was unable to beat my cancer,” the post said. “As many of you know, I have been fighting an incurable disease, metastatic uveal melanoma.”

It’s a type of cancer that affects the uvea, the middle layer of the eye. It accounts for just 5% of all melanoma cases in the U.S., however, it can be aggressive and spread to other parts of the body in up to 50% of cases, according to the Melanoma Research Alliance’s website.

The Paris-born Clement has been one of the top trainers in the U.S. over the last 34 years. He learned under his father, Miguel, who was a leading trainer in France. Clement later worked for the prominent French racing family of Alec Head. In the U.S., he first worked for Hall of Fame trainer Shug McGaughey.

Clement went out on his own in 1991, winning with the first horse he saddled at Belmont Park in New York.

“Beyond his accomplishments as a trainer, which are many, Christophe Clement was a kind and generous man who made lasting contributions to the fabric of racing in New York,” Dave O’Rouke, president and CEO of the New York Racing Association said in a statement.

Clement had 2,576 career victories and purse earnings of over $184 million, according to Equibase.

“I am very proud that for over 30 years in this industry, we have operated every single day with the highest integrity, always putting the horses’ wellbeing first,” he wrote in his farewell message.

One of his best-known horses was Gio Ponti, winner of Eclipse Awards as champion male turf horse in 2009 and 2010. He finished second to Zenyatta in the 2009 Breeders’ Cup Classic.

In the 2014 Belmont, Tonalist spoiled the Triple Crown bid of California Chrome, who tied for fourth. Tonalist won by a head, after not having competed in the Kentucky Derby or Preakness that year.

Steve Coburn, co-owner of California Chrome, caused controversy when he said afterward the horses that hadn’t run in the other two races took “the coward’s way out.” He later apologized and congratulated the connections of Tonalist.

Clement’s lone Breeders’ Cup victory was with Pizza Bianca, owned by celebrity chef Bobby Flay, in the Juvenile Fillies Turf. Clement had seven seconds and six thirds in other Cup races.

“It was Christophe’s genuine love for the horse that truly set him apart,” Eric Hamelback, CEO of the National Horseman’s Benevolent and Protective Association, said in a statement. “He was a consummate professional and a welcoming gentleman whose demeanor was always positive, gracious and upbeat.”

Clement’s statement said he would leave his stable in the hands of his son and longtime assistant, Miguel.

“As I reflect on my journey, I realize I never worked a day in my life,” Clement’s statement said. “Every morning, I woke up and did what I loved most surrounded by so much love.”

Besides his son, he is survived by wife Valerie, daughter Charlotte Clement Collins and grandson Hugo Collins.

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