After the financial crisis in 2008, once again a bad economic recession has been predicted in the year 2022 by economist Nouriel Roubini. He had made similar predictions earlier in 2008 as well.
Roubini has told that this time the economic slowdown can start from the end of the year 2022 and go till the end of 2023. During this time, a lot of bad effects can be seen on the global market.
In an interview, Roubini, President and Chief Executive Officer of Macro Associates, said that there may be a big decline in the global market. Apart from this, the S&P 500 can also fall by about 30 per cent. If the situation worsens, then it can fall by up to 40 per cent.
Earlier, Roubini had predicted the economic crisis in the year 2007-08 very accurately. So this time also a lot of concerns are being raised about the prediction made by him. He has come to be known as Doctor Doom since he predicted the 2008 economic downturn.
In the midst of steadily rising inflation, Roubini has said that after the 75 basis points increase in the current meeting, there may be an increase of 50 basis points in the November-December meeting as well. By the end of the year, the Fed Reserve's rates can be taken between 4 and 4.25 per cent.