FBN’s Varney: We’re ‘Headed Into a Recession’

On Monday’s broadcast of the Fox News Channel’s “Fox & Friends,” Fox Business host Stuart Varney stated that the U.S. is “headed into a recession. I don’t think there’s any way around it.”

Varney said, “We are, I think, headed into a recession. I don’t think there’s any way around it. Because if you look at the experience of China, as you related, in the first couple of months of this year, as they were in the middle of this crisis, industrial production went down 13%, down 13%. Retail sales, down 20%.”

He added, “But if the same thing happened here, you would have a major recession, bordering on depression with those kind of numbers.”

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