U.S. treasury secretary Janet Yellen acknowledged the risk of a possible recession next year, while a CNBC Fed Survey shows that 61 percent see a recession coming.
All on the heels of a potential 50 basis point interest rate hike by the Fed, but Billionaire Elon Musk believes that If the Fed raises rates again the severity of the potential recession could be amplified.
Mark Hamrick, senior economist at bankrate.com, talks about the topic.