US economy on verge of significant slowdown -CIO

STORY: Olsen said “the only thing that’s keeping us out of recession right now, officially I guess would be a rollover in the labor market. So far that hasn’t happened. But I think when you look at everything else, the longer that we go with credit conditions, as tight as they they are and seem to be headed. And with interest rates as they continue to go up, I think it’s just a matter of time before we see some sort of economic slowdown. The question is, is it a full blown recession or is it a pause in growth or is it something else?”