US recession risk 'high' as rates rise, Moody’s economist warns
Americans grapple with rising costs as inflation hit 8.3% in April
Moody's Analytics chief economist Mark Zandi argues recession risks are 'awfully high' but believes the economy is still on 'solid ground.'
During an interview on "Mornings with Maria" Monday, Moody's Analytics chief economist Mark Zandi discussed the country's "awfully high" recession risks, despite the economy still being on "pretty good, solid ground."
Moody's Analytics chief economist Mark Zandi discusses the country's inflation during an appearance on "Mornings with Maria" on May 16, 2022. (Fox News)
MARK ZANDI: I mean, I think recession risks are awfully high. I mean, I'd put the recession odds in the next year at about one in three and over the next two years. But I think we'll be able to sneak through. And the fundamental reason is, I think the economy is on pretty good, solid ground. Leverage is low. You don't see the kinds of imbalances in the economy typically prevail part of recession, but with rates rising, inflation high. Yeah, I think recession risks are high.
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WATCH THE FULL INTERVIEW BELOW:
Moody's Analytics chief economist Mark Zandi on Jeff Bezos slamming the Biden administration's handling of inflation, government spending and recession fears.