Ugly..

 

An interview with Bloomberg this week, Nouriel Roubini said that a recession is likely to hit the U.S. by the end of 2022 before spreading globally next year, conceivably lasting for the entirety of 2023.

“It’s not going to be a short and shallow recession; it’s going to be severe, long, and ugly,” Roubini said. 

Roubini said that a recession is likely to hit the U.S. by the end of 2022 before spreading globally next year, conceivably lasting for the entirety of 2023.

“It’s not going to be a short and shallow recession; it’s going to be severe, long, and ugly,” Roubini said.

But with the current economic climate, the Fed’s soft landing goal is “mission impossible” according to Roubini, who sees the rapid rise in both corporate and government debt over the past year as a damning indicator.