American economist, New York University professor Nouriel Roubini, who predicted the global economic crisis of 2008, said that the United States is waiting for a recession in the American economy. It is reported by RIA Novosti with reference to the material Fox Busines.
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According to an authoritative professor, the US banking system is facing serious economic difficulties. The Economist Says America is Heading for a Credit Crisis in the Economy. This, according to the expert, will lead to a recession in the US economic system
“The US is heading for a credit crunch that will send the economy into recession,” the economist said.
Roubini focuses on the fact that the main problem lies in regional banks that issue loans for mortgages, commercial real estate, as well as business: small and medium-sized enterprises. The collapse of the Silicon Valley Bank, in his opinion, makes smaller financial institutions complicate the process of obtaining loans, because of this, “a credit crisis will begin in the United States.”
“This crisis will greatly increase the likelihood of a recession, a hard landing, much more severe than it was before. Thus, we are facing a dangerous challenge for a significant part of the American banking system,” Roubini clarifies.
An American economist answered the question of what signs will indicate that the US economic system has reached a crisis situation. According to a professor from New York, “the worst is yet to come.”
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