Yahoo Finance, Released on 3/10/25

US stocks slumped on Monday on growing concerns about the economy. It comes after President Trump declined to rule out a recession. On Morning Brief, Queens’ College, Cambridge president Mohamed El-Erian weighs in, saying though recession risks have risen, it is not his “baseline.” “My probability of US recession has gone up from 10% to 25 to 30%. So it’s not the baseline… The reason why it’s not the baseline has to do with the structural strengths of the US economy. It also has to do with what we’ve been promised down the road in terms of deregulation, tax cuts, and the reality of low energy prices,” he says.

Mohamed El-Erian is the President of Queens College, Cambridge and the Chief Economic Adviser of Allianz, a multinational financial services company. He is the former CEO and co-Chief Investment Officer of PIMCO, a global investment firm and one of the world’s largest bond funds in the world. Dr. El-Erian also served as a member of the faculty of Harvard Business School. Before joining PIMCO, Dr. El-Erian was a managing director at Salomon Smith Barney/Citigroup in London and before that, he spent 15 years at the International Monetary Fund in Washington, D.C. His latest book is Permacrisis: A Plan to Fix a Fractured World.

  economy, market crash, stock market, tariffs