US needs a miracle to avoid recession Stephen Roach

The nation's economic downturn is projected to last for another year

The negative economic growth that occurred in the United States in the first half of this year is expected to continue, according to economist Stephen Roach.

The longtime head of Morgan Stanley Asia told CNBC on Tuesday that a much deeper economic downturn could last until 2024, noting that the US needed a 'miracle' to avo