"I don’t think we’re falling into some massive hole over the next few years, I think eventually the Fed will get hold of inflation. … You know that it’s going to be bumpy."

Morgan Stanley CEO James Gorman, commenting at a financial conference earlier this week, as reported by CNBC in its story, “Morgan Stanley CEO James Gorman Sees 50-50 Odds of Recession Ahead.” However, Gorman said that he believes the odds of a U.S. recession are probably 50-50 now, up from his earlier 30 percent recession-risk estimate, according to CNBC’s report.