Former Clinton Official Says U.S. In Recession, Will Be ‘Severe’

Posted In: Crash Prophets, Economy, Housing, Recession

On Tuesday, Nouriel Roubini, chairman of Roubini Global Economics LLC and former Treasury Department director in the Clinton administration, spoke with Bloomberg’s Michael McKee and Deirdre Bolton from Washington about Federal Reserve Vice Chairman Donald Kohn’s comments that day, the outlook for a U.S. recession, and the housing market. Dr. Roubini said the United States is already in a recession, as the economy started contracting back in December. He also predicted the recession will be “severe” and may last up to six quarters.

The Roubini interview (running time 3:34) can be accessed on Bloomberg News Video by following this link.

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