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US recession odds are 'extremely elevated' and a downturn is likely to hit within the next year, chief economist says

1 month ago   |   By Business Insider

Traders gather on the floor of the New York Stock Exchange, Friday, March 18, 2016. Associated Press/Richard Drew
Vincent Reinhart, the chief economist of Dreyfus Mellon, is expecting a recession to hit within the next 12 months.
"There is an extremely elevated chance of recession," he told Bloomberg on Thursday.
Reinhart explained why he sees the Fed's monetary policy approach as both hard and simple right now.
The chief economist of Dreyfus Mellon is expecting the US economy to face a downturn within the next year even though inflation has come down from its peak. "There is an extremely...
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