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Morgan Stanley CEO says 50-50 chance U.S. economy enters recession

FILE PHOTO: James P. Gorman, chairman & CEO of Morgan Stanley, testifies before a House Financial Services Committee hearing on Capitol Hill in Washington

NEW YORK (Reuters) - Morgan Stanley Chief Executive Officer James Gorman said on Monday that he thinks there is a roughly 50% chance that the U.S. economy will enter a recession, speaking at a conference hosted by his firm.

He said no one "can accurately predict where inflation will be a year from now." However, if the U.S. were to fall into a recession, he said, it is unlikely to be "deep or long."

(Reporting by Elizabeth Dilts Marshall and Sinead Cruise; editing by Jonathan Oatis)