Morgan Stanley CEO Gorman Doesn't See a 'Full Trade War'

The video discusses the ongoing trade tensions between the US and China, highlighting the potential economic implications of a full-blown trade war. It examines the global economic landscape, including factors like Brexit and US political environment, and their impact on market sentiment. The discussion also covers the risks of recession, market psyche, and the role of the Federal Reserve in managing economic stability.

What are the implications of the US running a surplus in services while China runs a surplus in goods?

What is the significance of the inverted yield curve mentioned in the text?