Ray Dalio breaks down why he sees a 25% chance of recession through 2020

The billionaire Ray Dalio — the founder of Bridgewater Associates, the world's largest hedge fund — told Bloomberg he sees a 25% chance of recession in 2019 and through 2020.
He cited the effectiveness of central-bank policies, the wealth gap, the 2020 US elections, and the economic emergence of China as key factors in deciding the intensity of the next economic downturn.
The Bridgewater founder also warned the Fed should slowly cut rates by small increments.
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