we begin here in the uk, where the institute for fiscal studies is warning the chancellor big and painful spending cuts will be needed to put the country s finances on a sustainable path. the independent think tank predicts with a weaker economy and promised tax cuts, there will be a large shortfall in revenue. it calculates the government would have to spend £60 billion a year less by 2026 27. the treasury says its tax cuts and reforms would deliver sustainable funding for public services . more for public services . detail on that on october sist. joining me now is janet mui, head of market analysis, rbc brewin dolphin. they have quite a lot of detail as to why they believe the government will not have the money it needs to go ahead with plans? money it needs to go ahead with lans? ., ., ., plans? thanks for having me, first of all plans? thanks for having me, first of all before plans? thanks for having me, first of all before the - plans? thanks for having me, firs
Jp morgan chase s chief executive, jamie dimon, says the us is headed towards a recession in the next six to nine months. jimmy diamond is not one to mince words from his perch at the top ofjpmorgan, he has a keen eye on the american economy, he noted consumers are in a better financial position than they were be the financial crisis in 2008 and the economy remains relatively healthy, he will use the us is headed for a recession next year. the comments come as many economists worry about a possible recession has the federal reserve rapidly creases the cost of borrowing, the chair of the central bank to rome powell has said reading in inflation as a priority but the federal reserve by suggested it will take some time for these interest rate hikes to hit the economy and actually start to bring down inflation. and all