Optimistic forecast from the crisis prophet this time

Economist Nouriel Roubini, known as the crisis prophet, made a prediction contrary to the market expectation of a recession in the US, which was one of the main reasons for the storm experienced in global markets at the beginning of the week. Roubini said that there was no sign of a hard landing in the US economy and that he did not expect a major interest rate cut from the Fed. Economist Nouriel Roubini believes that the market's pricing that the US economy is heading for a hard landing and that the Fed will make aggressive interest rate cuts is too pessimistic. Roubini, known as the crisis prophet, said in an interview with Bloomberg TV, “There is some significant evidence that the economy is slowing down, but I don’t think the data is showing that we’re going to have a hard landing anytime soon. On the contrary, there are actually elements in the economy that are gaining strength.” Following data showing a significant slowdown in the US employment market at the beginning of the week, markets had priced in a 100 basis point rate cut by the end of the year. Roubini emphasized in his interview that some of the markets’ past expectations about a recession had also been proven wrong. Roubini said, “I would say that the stock market predicted a third of the recent recessions. The same goes for the bond market and the inverted yield curve. The market was even wrong about the Fed. Markets are often wrong about what’s going on in the economy and what the Fed will do.”