Predictions from the Man Who Forecast the 2008 Financial Crisis

Nouriel Roubini, known for predicting the housing market collapse and the financial crisis in 2008, mentioned that the Federal Reserve may struggle to tighten its monetary policy if growth slows and a major sell-off occurs in global stock markets, as it did in the fourth quarter of 2018. Roubini predicted that the Fed would delay raising interest rates despite high inflation rates, adding that stagflation could persist for several quarters. Regarding oil prices, Roubini estimated they could reach $100 per barrel in the coming months, noting that this also depends on OPEC+ decisions and whether Iranian barrels would return to global markets. Nouriel Roubini is the CEO of Roubini Macro Associates, a global macroeconomic consulting firm based in New York. In a speech delivered in 2006 at the International Monetary Fund, Roubini warned of an imminent recession due to a credit bubble and the housing market. His predictions became a reality in 2008, with the bubble bursting and resonating worldwide into a global financial crisis.