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The Tell

‘Recession is once again a serious threat’, economist Mark Zandi says

The outlook for the U.S. economy will continue to darken as long as the Strait of Hormuz remains effectively closed to oil-tanker traffic, even though the U.S. now produces about as much oil and natural gas as it consumes.

That’s according to Mark Zandi, Moody’s chief economist, who thinks that if nothing changes within a few weeks, a recession could become unavoidable.

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