ECRI's Achuthan: "We Are Going to Have a New Recession"

NEW YORK (CNNMoney) -- The U.S. economy is staring down another recession, according to a forecast from the Economic Cycle Research Institute. "It's either just begun, or it's right in front of us," said Lakshman Achuthan, the managing director of ECRI. "But at this point that's a detail. The critical news is there's no turning back. We are going to have a new recession."