Kelly: 2025 GDP Could ‘Struggle’ to be in ‘1% Range’, Market has Another 10% Downside

“The probability of us slipping into recession is still pretty elevated.” Erick Kelly argues that the economy was already decelerating before the trade war and thinks GDP could “struggle to be in the 1% range this year.” He says China’s manufacturing dominance and ability is a “really big hurdle” to cross, and if we “continue to play hardball” it could be “very, very hard to unwind.”

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