Roubini Expects 35-40% Chance of a Double Dip Recession in U.S.

Thursday, October 14, 2010

Roubini Expects 35-40% Chance of a Double Dip Recession in U.S.

New York University Professor Nouriel Roubini said he expects a 35 percent to 40 percent chance of the U.S. entering a double-dip recession, highlighting the risks faced by the world’s largest economy.

“Since second quarter growth in U.S. was only 1.7 percent and everything’s going to be weaker in the second half of the year, by the fourth quarter economic growth in the U.S. could be as low as 1 percent,” Roubini said in a conference today in Seoul. “The growth rate is so low it’s going to feel like a recession even if technically this is not a recession.”
read article>>>

No comments:

Post a Comment

Nouriel Roubini, (born March 29, 1958, Istanbul, Turkey), Turkish-born American economist and educator who was best known for predicting the 2007–08 subprime mortgage crisis in the United States and the subsequent global financial crisis.

Born to Iranian Jewish parents, Roubini moved with his family to Iran and Israel before they settled in Italy in 1962. After a year at Hebrew University of Jerusalem, he studied economics at Bocconi University in Milan (B.A., 1982) and Harvard University (Ph.D., 1988), where he specialized in macroeconomics and international economics. He joined the economics faculty at Yale University in 1988 and taught there until 1995, when he moved to New York University. He also served as a visiting scholar to the International Monetary Fund (IMF), was a research associate with the National Bureau of Economic Research (NBER), held single-year terms on the White House Council of Economic Advisers (1998–99) and at the U.S. Department of the Treasury (1999–2000), and cofounded (2004) the consulting firm Roubini Global Economics. Roubini spent much of his early career studying countries that experienced extreme economic failures, such as Mexico (in 1994), Thailand and other countries associated with the 1997 Asian financial crisis, Russia (1998), and Argentina (2000). He determined that each shared one common element: a massive current account deficit.(www.britannica.com)

Nouriel Roubini is the Chairman and CEO of Roubini Macro Associates, LLC, his own global macroeconomic consultancy firm. He is also a professor of economics at New York University’s Stern School of Business. Dr. Roubini has extensive policy experience as well as broad academic credentials. From 1998 to 2000, he served as the senior economist for international affairs on the White House Council of Economic Advisors and then the senior advisor to the undersecretary for international affairs at the U.S. Treasury Department, helping to resolve the Asian and global financial crises, among other issues. The International Monetary Fund, the World Bank and numerous other prominent public and private institutions have drawn upon his consulting expertise.

NOURIEL ROUBINI BLOG

Thursday, October 14, 2010