The risk of a recession “is getting higher and higher,” says veteran economist Mohamed El-Erian.
“My definition of a recession is a holistic definition. It goes well beyond two quarters of negative GDP,” said the chief economic advisor of Allianz and former CEO of PIMCO.
“The labor market is too strong. Consumer spending is too strong. Business balance sheets are too strong. We simply are not in a recession. Is the risk of recession high? Yes, it is high and getting higher,”…
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