.Sergio Ermotti, ceo of UBS GroupStefan Wermuth|Bloomberg|Getty ImagesZURICH, Switzerland u00ea u00b7 UBS chief executive officer Sergio Ermotti stated Wednesday that market dryness could boost in the second one-half of the year, yet he carries out certainly not believe the united state is actually heading right into a recession.Global equities saw sharp sell-offs recently as real estate investors digested weak economic data away from the USA which raised fears regarding a financial downturn worldwide's largest economic climate. It additionally questioned concerning whether the Federal Reserve needed to have to be a lot less hawkish with its financial plan posture. The central bank maintained fees on grip in overdue July at a 23-year high.When asked about the overview for the USA economic climate, Ermotti stated: "Not essentially a financial crisis, but absolutely a decline is possible."" The macroeconomic indications are actually unclear adequate to discuss economic downturns, and in fact, it's perhaps untimely. What we know is actually that the Fed has good enough capacity to action in as well as support that, although it's heading to require time, whatever they carry out to become at that point transferred right into the economic situation," the CEO told CNBC on Wednesday after the financial institution mentioned its own second-quarter results.UBS counts on that the Federal Reserve are going to cut costs through at least 50 manner factors this year. Currently, investors are actually split in between a fifty and a 25 manner aspect cut at the Fed's following conference in September, depending on to LSEG data.Speaking to CNBC, Ermotti mentioned that our experts are actually probably to find greater market volatility in the second one-half of the year, partially as a result of the united state vote-casting in Nov." That is actually one element, but likewise, if I consider the overall geopolitical picture, if I consider the macroeconomic picture, what our experts found in the final couple of full weeks in terms of volatility, which, in my viewpoint, is actually a clear indicator of the fragility of some factors of the unit, u00e2 $ u00a6 one need to anticipate definitely a greater degree of dryness," he said.Another anxiety moving forward is actually monetary plan and also whether central banks will have to reduce costs a lot more boldy to combat a stagnation in the economic climate. In Switzerland, where UBS is actually headquartered, the central bank has reduced costs two times this year. The International Central Bank as well as the Bank of England possess both declared one slice up until now." Understanding the activities which are actually theu00c2 unknowns on the horizon like the USA governmental election, we ended up being contented with a quite reduced dryness, right now our team are switching to a more regular regimen," Bruno Verstraete, owner of Lakefield Wealth Administration told CNBC Wednesday." In the circumstance of UBS, [even more volatility is actually] certainly not essentially a negative point, given that more dryness indicates additional investing earnings," he added.