Is the U.S. economy in danger of contracting? The vibe on financial markets has gone from “U.S. exceptionalism” to talk of recession risks as President Donald Trump’s trade war commences. Host Carmel Crimmins talks to Fed correspondent Howard Schneider about what determines a recession and if it’s ever a good thing. Plus, as the White House talks up the idea of an economic “transition”, we hear how Australia’s former Prime Minister Paul Keating
lived to regret a 1990 quip about recession Down Under.

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