Lagarde Says Global Recession Unlikely But Trade a Key Risk

(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. Incoming European Central Bank President Christine Lagarde said the global economy is likely to dodge an outright contraction, though trade tensions remain the top threat to the growth outlook.“It is not in the baseline to have a recession,” Lagarde said in a Bloomberg Television interview on Tuesday. “That said, it’s mediocre growth, it’s at risk b