AutoNation says US faces recession absent rate cut

Newswire

DETROIT, Aug 28 (Reuters) - Car dealership group AutoNation Inc. Chief Executive Mike Jackson said on Tuesday that the U.S. economy is in danger of slipping into a recession unless the Federal Reserve moves aggressively to cut interest rates. "I think we are at a tipping point," Jackson told Reuters in an interview. "They have to recognize that they are bringing into play a recession for this economy." "They need to begin to cut rates, not just once but several times," he said of U.S. ...

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