Nouriel Roubini, chairman of Roubini Global Economics and professor at NYU Stern Business School, was the economist who anticipated the collapse of the United States housing market and the worldwide recession, which started in 2008. In an interview in Bloomberg TV, posted in YouTube, Roubini pictures an “anemic recovery” for the US economy which will result in a very slow process of tapering by the FED, “regardless of who chairs the FED, as it is a committee that will act slowly in any decision”. Roubini expects the FED to take three years to normalize the interest rate situation and highlights that even if global growth will be better on 2014, in will still be “still just below trend”.
Talking about Europe, Roubini also describes the economic situation as “anemic and pathetic”, stressing that in Southern Europe, countries like Greece and Spain are near “depression” and that the Eurozone will not be able to reduce at all the high levels of unemployment . China will not help either, as it “will surprise on the downside” growing below 7% next year.
Nouriel Roubini speaks on Bloomberg Television’s “Bloomberg Surveillance.”