US Recession Forecast from Morgan Stanley Manager James Gorman

James Gorman, one of the top managers of the American investment bank giant Morgan Stanley, spoke about the US economy. Gorman noted that the probability of the US economy experiencing a recession, which means shrinkage and contraction in the economy, is 50 percent.

One of the directors of Morgan Stanley, James Gorman, recorded statements about the economy at a meeting held by Stanley. Talking about the concerns about the shrinkage in the US economy, James Gorman said, "It is possible to enter a recession. Frankly, this probability is now 50 percent". Gorman added that the US economy is unlikely to enter a deep or long recession these days. Underlining that he has confidence that the US Federal Reserve (Fed) can bring inflation down, Gorman added that the process will follow "ups and downs". Gorman noted that the fundamentals of the economy, including consumer and corporate balance sheets, are in good shape, noting that the Fed has yet to wait too long to raise interest rates, leaving them less room to maneuver should a recession begin. The inflation crisis experienced all over the world, the aggressive interest policy of the Fed brought the recession anxiety in the markets to the peak. Many experts have warned investors that the challenges in the global economy will come one after another, with the pandemic and war.