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Morgan Stanley CEO: ‘50-50 Odds’ of Recession, But No ‘Massive Hole’ Ahead  

James Gorman, CEO of Morgan Stanley, said that while the chances of a recession have grown to 50%, he doesn’t expect the economy to fall “into some massive hole over the next few years.” So reports CNBC.

Morgan Stanley2Gorman said that it may be a “bumpy” ride for a while, and that the Fed waited too long to raise rates, but that he believes it will eventually get inflation under control.

Jamie Dimon, CEO of rival JPMorgan has said he thinks there is a “hurricane” ahead. However, Gorman says that he doesn’t see a “deep or long recession.”

Read the full article from CNBC.

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