The biggest names on Wall Street are weighing in on the big recession question

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REUTERS/Eric Thayer

For a long time, Wall Street was focused on rates, and when the Federal Reserve would put an end to the zero interest rate policy era.

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Now the focus is switching to another R-word: recession.

The Fed finally hiked last week, but even as it did so there were some predicting that central banks would revert to easing and zero.

That is because many are now predicting a recession.

"If the next recession comes in the next couple of years it's hard to imagine Fed Funds being high enough that the Fed will be able to avoid returning to zero again with risks that QE4 will be needed," Deutsche Bank's Jim Reid said last week.

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He added that "it would be heroic to think we won't see [zero interest rate policy] again at some time over the next 2-3 years."

Some of the biggest names on Wall Street, including Leon Cooperman, Jeff Gundlach and Fed chair Janet Yellen have discussed the potential for a recession in the past couple of weeks.

Here is what they had to say: