Roubini takes on Yellen, a clash for the ages | NOURIEL ROUBINI BLOG

Thursday, April 18, 2013

Roubini takes on Yellen, a clash for the ages

Chamberlain vs. Russell. Magic vs. Bird. Gibson vs. Eckersley, and now Roubini vs. Yellen. Sometimes it takes one great competitor to bring out the best of another.

In a moment of magic at an otherwise dense IMF discussion of post-financial-crisis monetary policy, Nouriel Roubini, known for his pessimistic outlook and aversion to economic policymakers, procured a microphone and asked Fed Vice Chair Janet Yellen if, maybe, just maybe, she was all wrong about the looming threat of asset bubbles.
Roubini had in mind Yellen’s earlier prepared remarks to the panel that she didn’t see any clear and present danger of an asset bubble and her conclusion that bank regulatory policy was the best flame retardant to combat any overheated markets.

He slyly noted that other top Fed officials, notably the new whiz kid of the Fed board, Jeremy Stein, have raised some doubts that regulatory policy is the best way to burst a bubble.
read more http://blogs.marketwatch.com/thetell/2013/04/16/roubini-takes-on-yellen-a-clash-for-the-ages/ >>>>>>

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.