Wall Street strategist warns: the probability of a US economic recession has increased to 75%

Odaily Planet Daily News BCA Research’s Chief Global Strategist Peter Berezin said that since President-elect Trump’s victory last week, the probability of a US economic recession has risen. In a report last Friday, Berezin raised the probability of an economic recession from 65% to 75%, citing the new trade war risks under Trump’s rule. ‘The prospect of a new trade war far outweighs other pro-business aspects of Trump’s agenda,’ Berezin said. ‘Given the weakness of the labor market before the election, the likelihood of an economic recession has risen.’ Belregin added that once clearer evidence of economic downturn emerges, he plans to recommend adjusting to a ‘maximum reduction’ in stocks. (Jin10)