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Need to Know: A ‘shock to markets around the world’ could trigger next financial crisis, says Roubini

The Federal Reserve is widely expected to strike a dovish chord when it meets this week, clearing the way for a July rate cut — the first in more than a decade — that almost 40% of economists in a Wall Street Journal poll are expecting.

While a hawkish Fed no longer looms large over this aging bull market, Nouriel Roubini, NYU economics professor and perhaps the media’s favorite permabear, now says the world “has an even bigger problem on its hands.”

In our call of the day, Roubini examines “the growing risk of a 2020 recession” and the specter of crisis in an already fragile global economy.

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