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:
Q: Let me just start with the prospect of a recession. What chances do you think we're going to have one and how deep will it be?
Mark Zandi, Moody's economist: "More likely than not. I'd say the probability at this point are well over even." pic.twitter.com/i7E36kMLMK
— Kyle Griffin (@kylegriffin1) March 9, 2020