Economy

http://www.cnbc.com/2015/12/04/us-economy-recession-odds-65-percent-investor.html

The U.S. dollar had its biggest one-day decline this week in nearly six years after the European Central Bank surprised the world with a smaller-than-expected stimulus package.

Despite the move, one prominent market observer said the dollar will continue to get stronger — and the U.S. economy will only get worse.

Although the November jobs report that showed the U.S. economy generated a net 211,000 new positions, Raoul Pal, the publisher of The Global Macro Investor, reiterated his bearishness ahead of a widely expected interest rate hike by the Federal Reserve in mid-December.

"The economic situation is deteriorating fast. And meanwhile the Fed seems to want to raise interest rates into that, which I think is a bit of a policy mistake and I think the market is getting more and more concerned from not understanding why they're doing it," Pal told CNBC's "Fast Money" last week.

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