Economist Nouriel Roubini Predicts Impending Economic Crisis and Banking Instability.
Economist Nouriel Roubini warns that the US economy is entering a "doom loop" due to high inflation, high debt levels, and financial instability, leaving the Federal Reserve unable to fight a recession. Roubini predicts a coming cycle of economic pain, with a severe recession being the only thing that can temper price and wage inflation, but it will make the debt crisis more severe, and that in turn will feed back into an even deeper economic downturn. Roubini expects a stagflationary debt crisis that will involve a steep downturn that combines the worst aspects of 1970s stagflation and the 2008 financial crisis.