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Ray Dalio, the billionaire founder of the world’s largest hedge fund, sees 25% chance of a US recession this year and in 2020 and believes the response by the major central banks would be limited, according to Bloomberg.  

Dalio  said:

The Federal Reserve, European Central Bank and Bank of Japan have to face the fact that when the next downturn comes there will not be the power to reverse it in the same way that existed before.