(Mark Decambre – MarketWatch)
Nobel laureate Paul Krugman says he sees a good chance of a recession hitting the U.S. within a year.
Speaking at a government summit in Dubai, the economist and highly read New York Times columnist said the likelihood of an economic slowdown hitting the U.S. was high due to sluggish growth already buffeting China and Europe. According to CNBC, Krugman said that “there was a good chance that the U.S. will have a recession late this year” or by 2020.
Krugman said the fact that policy makers, including the Federal Reserve and the European Central Bank, don’t have room to respond to a downturn also could be a factor that worsens a downturn that hits Europe and Asia and bleeds over into the U.S.
In a separate interview with Bloomberg at the same summit in Dubai, Krugman said he saw even odds of a recession. Click here to read more.
- Paul Krugman Sees Possible U.S. Recession With Little Fed Wiggle Room (Bloomberg)
- Krugman Expects a Global Recession This Year, Warns ‘We Don’t Have an Effective Response’ (CNBC)
- Former Fed Chair Paul Volcker Takes Trump to Task on Taxes, Trade (Reuters)