#NourielRoubini #youtube #stockmarket
Dr. Doom’ is at it again. The man credited with predicting 2007’s credit crash and subsequent great financial crisis says “the worst is still ahead of us.” Speaking in an interview with Yahoo Finance, NYU Stern Professor Emeritus of Economics Nouriel Roubini says banks aren’t in the clear in the aftermath of SVB’s spectacular collapse; the U.S. banking sector’s biggest failure since Washington Mutual went under. Perhaps more unsettling even, is his view it could spell bigger problems for the wider U.S. economy. Roubini says the current scenario will exacerbate a “credit crunch,” in which loans are harder to find because of more scrutiny and a risk-off environment. “That credit crunch is gonna tip the U.S. economy into recession later this year,” he warns. The famed economist says even before the banking turmoil arose, the Fed was facing a dilemma balancing both price stability and growth. Now, he says, it looks more like a “trilemma” and that “central banks are in a trap”. Above, Yahoo! Finance’s Rachelle Akuffo spoke to Roubini. Watch the full interview here.
Key video moments:
00:00:00 – “The worst is still ahead of us”
00:00:17 – “They have exposure to commercial real estate”
00:00:46 – “This credit crunch is gonna reduce significantly economic growth”
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