Ray Dalio, billionaire founder of one of the world's largest hedge funds, said on Sunday that President Donald Trump's trade war has brought the United States near to recession.
He was asked on NBC's Meet the Press if he thought the world's largest economy could dip into recession, usually understood as a meaningful decline in output, as a result of a trade war that has roiled global markets in recent weeks.
The Bridgewater Associates founder said, "I think that right now we are at a decision-making point and very close to a recession."