Prices for shelter, gas and food all rose in May following an April decline, with overall inflation increasing rapidly past expectations, damping hopes that inflation had peaked and intensifying fears of a recession.
Mason’s comments come on the heels of those of a number of other financial executives who have weighed in recently on the likely severity of a coming economic downturn. JPMorgan Chase CEO Jamie Dimon sounded perhaps one of the louder alarms, projecting big storm clouds on the horizon that “may dissipate” as opposed to a tsunami. He later likened it to a hurricane of unknown strength bearing down on the economy, according to a June 1 Financial Times report.
