Saturday, 25 March 2017
Last updated 23 hours ago
Aug 26 2010 | 9:40am ET
Famed economist Nouriel Roubini says risk of a double dip recession in the U.S. has climbed to above 40%.
"We know that the second half of the year is going to be worse than the first half, and worse than Q2 for the following reason. We have had a series of tailwinds to growth in the first half of the year that are going to be become headwinds," Roubini said in an interview on CNBC this morning.
Roubini pointed to the fiscal stimulus, saying it was a driver of growth in the first half and will become a drag on growth in the second half. He also said inventory adjustments will have run their course, and there will be negative affects from the census, among other factors pushing the economy further into the toilet.
Original Airtime: Thurs. Aug. 26 2010 | 7:34 AM ET