Withxa0inflationxa0stalling, the long-predicted storm clouds in thexa0economyxa0may actually be forming

Jamie Dimon, CEO of a major bank, previously made a mistaken prediction about the US economy. Despite this, Dimon is now expressing concerns about inflationary pressures and is doubtful about a soft landing for the economy. The Federal Reserve officials also share these concerns, potentially impacting rate cuts. Inflation measured by the Personal Consumption Expenditures price index has slightly accelerated. Small business owners are not optimistic about the future, with expectations at their lowest level since 2012. Higher inflation is also affecting consumers, with a record level of credit card debt and uncertainty about making minimum debt payments on time.