Fed's Poole says chances of recession remote

The likelihood of the US sliding into a 'double-dip' recession in the US is low, according to the president of the St Louis Federal Reserve bank.

Speaking to the Midwestern States Association of Tax Administrators, William Poole noted that there's only been one double-dip recession since World War Two. The short 1980 recession was followed by a four-quarter recovery and then by the deep 1981-82 recession.