U.S. recession odds are quickly climbing on betting markets, reported Newsweek.
The probability of a recession jumped to 47% on Polymarket and 54% on Kalshi Thursday, a day after President Donald Trump rolled out sweeping tariffs on nations he claims are the worst offenders in trade relations with America.
"My fellow Americans, this is Liberation Day," Trump said from the White House Rose Garden.
"April 2, 2025, will forever be remembered as the day American industry was reborn, the day America's destiny was reclaimed and the day that we began to make America wealthy again," he said.
Brokerages Deutsche Bank and BofA warned on Thursday that the U.S. economy faces a higher risk of slipping into a recession this year if Trump's sweeping new levies remain in place.
If the tariffs are sustained, "recession risks will likely rise materially," Deutsche Bank said in a note, while BofA noted the economy could be pushed to "the precipice of recession."
Solange Reyner ✉
Solange Reyner is a writer and editor for Newsmax. She has more than 15 years in the journalism industry reporting and covering news, sports and politics.
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