He said businesses and consumers alike were struggling to contend with tumultuous markets and a financial-services industry under siege.
“Unlike the other downturns that I've been a part of, this one is faced with limited liquidity,” Mr Immelt, GE's CEO since 2001 told a conference. “Once you break through '74-'75, you don't stop 'til you get to 1929.”
When asked whether he would call the current slowdown a recession or a depression, Mr Immelt joked that he would need to refer to his college economics text book for a precise answer but said “it is one of those” two.
您已阅读67%（570字），剩余33%（283字）包含更多重要信息，订阅以继续探索完整内容，并享受更多专属服务。