J.P. Morgan Raises Global Economic Recession Forecast for This Year to 60%

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On April 5th, the Crew Dragon spacecraft of F2Pool co-founder Wang Chun successfully landed. SpaceX issued an official congratulatory post, saying, "Welcome back to Earth." The SpaceX Crew Dragon spacecraft started its sixth crewed space mission (Fram-2) on April 1st, marking the world's first crewed mission to a polar orbit. The spacecraft was launched from Pad 39A at NASA's Kennedy Space Center in Florida, USA. The mission involved 4 astronauts: F2Pool co-founder Wang Chun, Janick Michelsen, Labiba Roeg, and Anerik Phillips. Wang Chun's team privately funded nearly $200 million for this mission, making it the first privately contracted polar orbital mission in commercial spaceflight history. Wang Chun served as the mission commander. The spacecraft will enter a polar orbit with a 90° inclination and an orbit altitude between 425 and 450 kilometers. It will traverse the polar orbit, flying from over the South Pole to the North Pole and back in a repeated pattern.

On April 5th, as reported by The Wall Street Journal, the Swedish payment giant Klarna has urgently suspended its planned IPO in the US, becoming the latest victim of the large-scale tariff announcement by the Trump administration. BlockBeats had previously reported that on March 6th, sources disclosed that the Swedish payment giant Klarna Bank AB planned to conduct an initial public offering (IPO) in the United States to raise at least $1 billion. Klarna also stated that it would embrace cryptocurrency, but has not yet determined a specific plan and needs time to explore the best integration method. Klarna is valued at $14.8 billion, has more than 85 million users, an annual transaction volume exceeding $100 billion, and its largest shareholder, Sequoia Capital, holds a 22% stake.

On April 5th, Federal Reserve Chair Powell stated in his keynote address regarding the economic outlook: It seems that the Fed does not need to act in a hurry. I intend to complete the entire term and actually take great pleasure in this job. There will be significant fiscal legislation and regulatory changes, and many companies have indicated that they are awaiting clear guidance to make decisions. (Xinhua News Agency)

On April 4th, Federal Reserve Chairman Powell said in his keynote speech on the economic outlook: We are facing a highly uncertain outlook. It will be extremely difficult to evaluate the economic impact of tariffs until we have more certainty regarding the details. While uncertainty remains at a high level, it is now evident that the magnitude of tariff increases will be much higher than anticipated. The economic impact could also be in such aspects, including higher inflation and slower growth. The extent and duration of these impacts remain uncertain. We will continue to closely monitor the upcoming data releases, the evolving outlook, and the risk balance. We are prepared to wait for more definite information before contemplating adjustments to our policy stance. It is still too early to determine what the appropriate path for monetary policy is at this time. (FXStreet)

On April 4th, Federal Reserve Chair Powell stated in a keynote speech regarding the economic outlook: The Fed has not made a probability forecast of an economic recession. However, external forecasters have raised the likelihood of this. The tariff level remains higher than that of almost all forecasters' expectations, yet it is still uncertain where it will ultimately settle. The committee is not accountable for trade, immigration, fiscal, or other policies. A year from now, as the impact of the Trump administration's policies becomes more evident, uncertainty should decrease significantly. (FXStreet)