Former Indian central bank chief Raghuram Rajan warned that the biggest threat to the U.S. economy will come from President Donald Trump's trade policies.
" published on the Project Syndicate website Tuesday, Rajan said the old rules governing macroeconomic cycles no longer seem to apply and it remains to be seen what might cause the next recession in the U.S.
He further highlighted that Trump's administration "doubled down" on its trade war with China just after the Fed embarked on its rate rising path last year. Meanwhile, a second factor Rajan points to is geopolitical risks such as the attack on Saudi Arabia's oil facilities in September. "A spike in the price of oil could tip the global economy into recession."
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