Zandi Says US Is ‘Uncomfortably Close’ to Recession

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Moody’s Analytics Chief Economist Mark Zandi says the war with Iran needs to end immediately or recession will become more likely than not. He says another jump in oil and gasoline prices could cause consumers to “pack it in,” pushing a fragile economy into contraction. Zandi also warns the Federal Reserve may not be in a position to rescue the economy, and says he does not see Congress or the administration coming to the rescue either. He speaks with Kailey Leinz and Joe Mathieu on the late edition of Bloomberg’s "Balance of Power."
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