Economy is fragile, recession could occur, Harvard professor warns. Martin Feldstein, July 18, 2018, Video, “Renowned Harvard professor and economist Martin Feldstein said the Federal Reserve would not be prepared if a recession were to occur soon. Feldstein told FOX Business Opens a New Window. ’ Maria Bartiromo during an interview on “Mornings with Maria Opens a New Window. ” on Wednesday that the economy is in good shape because of low unemployment Opens a New Window. and inflation, but despite that, it is still very fragile.Link