Top Economist Warns ‘the Worst Is Ahead of Us’ as Bank Crisis Will Lead to ‘Serious Credit Crunch’
Noted economist Nouriel Roubini has warned that the worst is yet to come for the U.S. economy in the wake of the recent banking turmoil, which could lead to a serious credit crunch.
Roubini, who is nicknamed “Dr. Doom” for being one of the first economists to call the recession fo 2008–09, made the comments during an interview with Fox Business’s “The Claman Countdown” on April 10.
Roubini was asked if First Republic Bank’s announcement in a regulatory filing on Friday that it will suspend its quarterly dividend on preferred stock indicates U.S. banks and global financials may face further turmoil ahead….