Worse..

 

Billionaire investor Carl Icahn believes the US is headed for a recession, or maybe worse, as the economy battles with sky-high inflation and the threat from Russia's war against Ukraine.

A recession refers to a period of a significant economic downturn across an economy that lasts for more than a few quarters. This can be seen in a slump in the gross domestic product. 

"Inflation is a terrible thing when it gets going. You can't get that genie back in the bottle too easily," he said. "In the last 20 or 30 years ... You had cheap goods coming in from the far east, from China, for sure, and even from Russia."

"And I think those days are over now, and you have this war going on now which adds another problem to your inflationary picture."

Icahn has been predicting trouble for the economy for some time now, saying in February that the Fed's money-printing "party" will end badly because it can't control inflation. He just isn't sure when it could happen.