Former Federal Reserve Chairman Ben Bernanke predicted the U.S. economy is heading into a sharp recession that should be followed by a “fairly quick rebound.”
“It is possible there’s going to be a very sharp, short, I hope short, recession in the next quarter because everything is shutting down of course,” he said.
Bernanke spoke Wednesday to CNBC’s “Squawk Box.”
This is breaking news. Check back here for updates.