New Delhi, April 6 -- Global brokerages and economists have warned an impending US recession after factoring in the impact of reciprocal tariffs announced by the Donald Trump administration. According to JPMorgan Chase & Co, "We now expect real GDP to contract under the weight of the tariffs, and for the full year (4Q/4Q) we now look for real GDP growth of -0.3 per cent, down from 1.3 per cent previously," The bank's chief US economist Michael Feroli said in a note to clients that the forecast contraction in economic activity is expected to depress hiring and over time to lift the unemployment rate to 5.3 per cent.

Feroli expects the US Federal Reserve to begin cutting its benchmark interest rate in June and proceed with rate cuts at eac...