Though President Joe Bident recently said “…thanks to the economic plan and the vaccination plan that my administration put into action, America has achieved the most robust recovery in modern history,” a prominent economist offered a gloomy economic assessment on Monday.
The economist, Nouriel Roubini, shared his educated comments during an interview with Bloomberg Television.
Noting that inflation is at a 40-year high and that prices for staples such as gas and food are projected to continue to increase, Roubini said he anticipates will either “remain exceptionally high” or experience a “hard landing,” according to a report in the Daily Caller.
Roubini explained: “The fed funds rate should be going well above 4% — 4.5% to 5% in my view — to really push inflation towards 2%,” Roubini said. “If that doesn’t happen, inflation expectations are going to get unhinged.”
Pointing to what that might look like, Roubini said: “Or if that happens, then we are going to have a hard landing. Either way, either way, you get a hard landing, or you get inflation getting out of control.”