Nouriel Roubini, chief executive officer of Roubini Macro Associates Inc., during a panel session at the Qatar Economic Forum (QEF) in Doha, Qatar, on Tuesday, June 21, 2022. The second annual Qatar Economic Forum convenes global business leaders and heads of state to tackle some of the world's most pressing challenges, through the lens of the Middle East.
Locked
“Dr Doom” Roubini expects a ‘long, ugly’ recession and stocks sinking 40%
Roubini expects the US and global recession to last all of 2023, depending on how severe the supply shocks and financial distress will be. During the 2008 crisis, households and banks took the hardest hits. This time around, he said corporations, and shadow banks, such as hedge funds, private equity and credit funds, “are going to implode.”
By Natalia Kniazhevich
(Bloomberg) – Economist Nouriel Roubini, who correctly predicted the 2008 financial crisis, sees a "long and ugly" recession in the US and globally occurring at the end of 2022 that could last all of 2023 and a sharp correction in the S&P 500.
"Even in a plain vanilla recession, the S&P 500 can fall by 30%," said Roubini, chairman and chief executive officer of Roubini Macro Associates, in an interview Monday. In "a real hard landing," which he expects, it could fall 40%.
___STEADY_PAYWALL___