JP Morgan is now raising the odds of a recession by the end of this year to 35 percent from 25 percent. The news comes after a weaker-than-expected July jobs report and the sharp sell-off in global equities over the unwinding of the yen-funded carry trades.
American budgets are being stretched. A new report shows the average credit card balance is more than $6,300, and more people are falling behind on payments.
