Guggenheim's Minerd Says Trade War Devastating for U.S., China
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Scott Minerd, chief investment officer for Guggenheim Partners, says a trade war with China may be “devastating” for the world’s two largest economies, raising the risk of a deep U.S. recession as soon as next year.
“The tail risk is getting fatter and fatter,” Minerd, whose firm oversees about $305 billion, said in a Bloomberg Television interview. “So far the Chinese have shown no interest in backing down, but neither does Donald Trump.”