PwC US chief economist and partner Dr Alexis Crow thinks there's a 60 per cent chance of the US going into recession but questions whether it will be severe and dramatic. She said she'll be looking at whether there is a shakeout in financial markets, a correction in asset prices or something in the credit market that will exacerbate any kind of economic downturn. As Donald Trump tries to push what he calls his big beautiful tax bill through the US House of Representatives, investors have made their votes clear by sending US government bond yields soaring. The benchmark 30-year US Treasury yield spiked at a near 20-year high at 5.1 per cent, sending the US dollar down as well sparking a sell-off in stocks. All up, the bill — including tax cuts promised during the election — could denude US government coffers by up to $US9 trillion over the next decade. #ABCBusiness Subscribe: http://ab.co/1svxLVE Read more here: https://www.abc.net.au/news/2025-05-22/rates-trump-michele-bullock-inflation/105319472 ABC NEWS provides around the clock coverage of news events as they break in Australia and abroad. It's news when you want it, from Australia's most trusted news organisation. For more from ABC NEWS, click here: https://ab.co/2kxYCZY Watch more ABC NEWS content ad-free on ABC iview: https://ab.co/2OB7Mk1 Go deeper on our ABC NEWS In-depth channel: https://ab.co/2lNeBn2 Like ABC NEWS on Facebook: http://facebook.com/abcnews.au Follow ABC NEWS on Instagram: http://instagram.com/abcnews_au Follow ABC NEWS on X (Twitter): http://twitter.com/abcnews Note: In most cases, our captions are auto-generated. #ABCNEWS #ABCNEWSAustralia