Thanks, Joe!
Appearing Thursday on the Fox Business Network, Harvard University professor Kenneth Rogoff, who served as former chief economist at the International Monetary Fund , warned that the odds of the United States falling into a recession are “at least 50/50.”The question becomes, “are we going to see a recession?” There are a lot of opinions out there and debate about whether a recession will hit this year or next.
Where are you on that?I think the chances are at least 50/50 that we’ll see a recession over the next year. What I feel really worried about is, I don’t see how the Fed will both bring inflation down to say 2.5 to 3 percent and not have a massive recession. I think to do that, they’d have to hike rates 4, 5 percent at least, and, over the next year and a half, I don’t think they are going to do that. I suspect we’re going to end up with still high inflation, and, maybe even still a recession.
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