Likelihood of recession very low - Fed's McDonough

UK - Federal Reserve Bank of New York President William McDonough said on Thursday 6 Sep that the U.S. was unlikely to go into recession. "The likelihood of recession is very low," McDonough said.

"The most likely thing is, as most private economic forecasters anticipate, the economy will recover," he added.

"We had weaker growth in the second quarter and we will see recovery from there," he said.

McDonough is in London to attend a two-day meeting of the Financial Stability Forum, which was set

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