According to online reports, JPMorgan Chase warned that under the weight of the Trump administration's tariff policy, the real gross domestic product (GDP) of the United States will contract and the economy may enter recession. Michael Feroli, the bank's U.S. chief economist, pointed out in his latest report that JPMorgan Chase has lowered its forecast for full-year real GDP growth from the previous growth of 1.3% to a contraction of 0.3%, and expects that there will be continuous economic contraction in the third and fourth quarters of this year. "The recession in economic activity is expected to push the unemployment rate to 5.3%," Feroli emphasized in the report."If the forecast comes true, our stagflation forecast will put Fed policymakers in policy difficulties. "This warning highlights the accelerating accumulation of downside risks facing the U.S. economy as trade tensions continue to escalate.