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Economist Says Economy Will Collapse: Recession Will Happen ‘More Likely Than Not’

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Economist Says Economy Will Collapse: Recession Will Happen ‘More Likely Than Not’

Appearing on CNBC’s Squawk on the Street this Monday, Mark Zandi of Moody’s was asked by host David Faber if the economy will go into a recession due to the outbreak of the coronavirus. According to Zandi, the chances of the U.S. heading into a recession are “more likely than not.”

As the Dow and S&P reported their worst day since 2011, Faber asked Zandi how the dampened economic activity as a result of the coronavirus will play out in the near future.

“More likely than not, I’d say at this point are well over even — if you priced me, I’d say 60-65 percent,” Zandi said, referring to the chances of a recession. “I think it’s going to be very difficult to avoid a downturn.”

You can see Zandi’s full remarks in the video clip below:

RELATED: HHS Secretary Ignores Reporters’ Coronavirus Questions, Gloats About Trump’s ‘Unbelievable’ Economy Instead

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