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Morgan Stanley’s Fels Puts Chance of Recession at 50%, Wiwo Says

Aug. 13 (Bloomberg) -- Morgan Stanley’s co-chief economist, Joachim Fels, reckons there’s a 50 percent chance of the global economy going into a recession, Wirtschaftswoche reported, citing an interview.

The U.S. is no longer the “locomotive” of the world economy but “the sleeping car,” Fels said, according to the German magazine. The country’s expansive monetary policy is causing inflation to soar worldwide, it cited the economist as saying.

To contact the reporter on this story: Julie Cruz in Frankfurt at jcruz6@bloomberg.net.

To contact the editor responsible for this story: Andrew Rummer at arummer@bloomberg.net

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