.Sergio Ermotti, ceo of UBS GroupStefan Wermuth|Bloomberg|Getty ImagesZURICH, Switzerland u00ea u00b7 UBS chief executive officer Sergio Ermotti mentioned Wednesday that market dryness could possibly boost in the second half of the year, but he performs certainly not feel the USA is heading right into a recession.Global equities observed sharp auctions recently as financiers digested unstable financial information away from the USA which reared anxieties concerning an economical downturn around the world's most extensive economic climate. It additionally raised questions about whether the Federal Get required to be a lot less hawkish with its own financial plan posture. The reserve bank kept rates on hold in overdue July at a 23-year high.When asked them about the overview for the USA economy, Ermotti pointed out: "Not necessarily a downturn, yet most definitely a slowdown is possible."" The macroeconomic indicators are actually unclear enough to talk about financial crises, and also really, it is actually probably untimely. What we understand is actually that the Fed has enough ability to come in as well as assistance that, although it is actually heading to take a while, whatever they carry out to become then sent in to the economy," the chief executive officer informed CNBC on Wednesday after the bank mentioned its own second-quarter results.UBS expects that the Federal Book are going to cut rates through at least fifty manner aspects this year. At the moment, investors are divided between a fifty and also a 25 manner aspect cut at the Fed's following meeting in September, according to LSEG data.Speaking to CNBC, Ermotti pointed out that our experts are very likely to view greater market dryness in the second half of the year, somewhat as a result of the united state political election in Nov." That's one factor, however likewise, if I examine the general geopolitical image, if I consider the macroeconomic photo, what our experts found in the final couple of weeks in terms of dryness, which, in my point of view, is actually a very clear indicator of the frailty of some factors of the system, u00e2 $ u00a6 one should expect most definitely a higher degree of dryness," he said.Another uncertainty moving forward is financial plan and whether central banks will definitely must cut prices more boldy to combat a slowdown in the economic situation. In Switzerland, where UBS is headquartered, the reserve bank has actually reduced rates twice this year. The International Reserve Bank and the Banking Company of England possess each revealed one cut until now." Recognizing the events which are actually theu00c2 unknowns on the horizon like the U.S. presidential political election, our team came to be obsequious along with an incredibly low dryness, currently we are actually switching to a more regular routine," Bruno Verstraete, owner of Lakefield Wealth Management informed CNBC Wednesday." In the circumstance of UBS, [more volatility is] certainly not necessarily a bad point, because more dryness suggests additional exchanging income," he included.