Stiglitz Says Probability of U.S. Recession ‘Very High’

Nobel-prize winning economist Joseph Stiglitz said the chances of the U.S. economy going back into recession are “very high.”

“The unemployment situation in the U.S. is very severe and very probably going to get worse,” Stiglitz told reporters today at a conference in Lindau, Germany. “There’s a very high probability we’ll go into double dip.”