Byron Wien: Coronavirus causes 'maximum level of uncertainty' but won't trigger recession
"Right now, people are very confused about what the outcome of the virus is going to be, what the industrial and market response is going to be," said Wien, vice chairman of Blackstone's private wealth solutions group.The outbreak will hurt global growth, Wien said, specifically in China were it is the most widespread. However, Wien said he still expects growth to be positive for the year.
"Global growth right now is projected to be greater than 3%. If this continues, and maybe even if it only continues for another month, you could knock that down below three," Wien said. But he stressed that any suggestion that the outbreak will cause recession is "too extreme" at this point.
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