Roubini: Low Interest Rates for As Far as Eye Can See

The Federal Reserve will keep interest rates near record lows for “as far as the eye can see,” says Nouriel Roubini,“Once the deleveraging of the public sector occurs, consumption growth is going to be slower,” Roubini tells CNBC. “So the economy for the time being is only growing 1.5 percent. Some positives would pick up the growth toward 2.3 percent, 3 percent.”Raising taxes and reducing government benefits will crimp income growth and force faster deleveraging, he notes. “Job creation is picking up, creating income. The tax increases, including the payroll tax elimination reduces it. So you have forces going in different directions.”“I don't think [a reversal of the Fed’s easing] is going to happen any time soon.” - in CNBC