India, March 13 -- Bruce Kasman, the chief economist at JP Morgan & Chase, has projected a 40% chance of a recession hitting the US. Kasman was speaking to reporters in Singapore when he expressed apprehensions about the condition of the US economy.

Kasman's latest projections are a leg up from the projections he made at the start of the year, when he pegged the chances of a recession in the US at 30%.

He said the probability of a US recession could rise further and even exceed 50%. Kasman said this would happen if the reciprocal tariffs announced by US President Donald Trump came into effect in April. He said Trump's disruptive, business-unfriendly policies could heighten the risk of a recession.

JP Morgan's current projection for the...