Bill Gross: Chances of a new recession are now 'high'

Yesterday, Pimco managing director and co-CIO tweeted that a recession is "likely as markets recognize impotency of policymakers." Now, Mr. Gross has added more commentary in an interview on Reuters Insider today, noting that there is "not only a potential for a recession but the almost high probability of recession." Mr. Gross and others have forecast the chances of a recession in recent weeks (See more here.) But in recent days, more firms have adjusted their forecasts for growth downward, and the probability for a new recession has been increased. Is Mr. Gross right the 'high' probability of recession. Watch his video interview (below) with Reuters and learn more: