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“Recession risks are higher than average,” Carmen Reinhart, Harvard professor and former chief economist at The World Bank, said in a recent episode of CNBC’s “The Bottom Line.” Reinhart pointed out that the U.S. is now in an era of more volatile markets, financial instability and higher interest rates, brought on primarily, she said, by unpredictable market frameworks. “We have policy uncertainty from all angles, whether it’s tariffs, ... there’s concerns about President Trump’s attacks on the Federal Reserve,” said Reinhart. “Then there’s a lot of geopolitical uncertainty as well.”