The CEO of FedEx predicts a "global recession" in the economy

FedEx CEO Raj Subramaniam told Jim Cramer of CNBC a worldwide economic recession is imminent

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FedEx missed projections for revenue and earnings in its first quarter

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which led to the CEO's pessimism. the business revoked its full-year forecast

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CEO Raj Subramaniam, told Jim Cramer on CNBC on Thursday

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He thinks the world economy is headed for a recession

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In answer to Cramer's query about whether the economy is "heading into a worldwide recession,"

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Subramaniam said, "I think so. But you know, these numbers, they don't portend very well,"

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In Thursday's extended trade, shares of FedEx fell 15%

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I'm quite upset with the outcomes that we just revealed here

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Subramaniam said that FedEx's dismal results were caused by declining global shipment volumes

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