According to a study conducted by experts at the Federal Reserve Bank of San Francisco, the likelihood of America facing another period of economic downturn in the near future is now more than 50 per cent.
Economist Travis Berge and advisors Oscar Jorda and Early Elias believe that the ongoing fiscal crisis being experienced by the eurozone is having a marked impact on the health of the country's economy.
Last year, the group estimated there was a 50 per cent chance of the US enduring another slump, but these odds have now increased as it appears unlikely the "fragile" US economy would be able to "withstand turbulence coming across the Atlantic".
This comes after President Obama warned China that "enough is enough" when it comes to the Asian country's warped valuation of the yuan.
By Asim Shah