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  Bill Gates dismisses recession fears
Time: 10:15 EST/15:15 GMT | News Source: CNET | Posted By: Robert Stein

Microsoft Chairman Bill Gates said Tuesday he did not believe the U.S. economy will hit a recession in the formal definition of the term but that the slowdown could be deeper than some economists expect.

"I am not sure the U.S. economy in the next 10 years will be as strong as it has been. It will go through a cycle. I think this cycle will be longer and deeper than others have predicted. But that does not mean it will not swing back," Gates told Italian businesspeople at a debate on the "Net economy."

"I don't think it will come to a recession in its formal definition," he said.

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