Dr. Doom Roubini: Fed May Take 3 Years to Normalize

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Sept. 26 (Bloomberg) -- In today’s “This Matters Now,” Nouriel Roubini, chairman at Roubini Global Economics, talks with Tom Keene about the state of the U.S. economy, the Federal Reserve and inflation. He speaks on Bloomberg Television’s “Bloomberg Surveillance.”

Bomb.

He said the fed is data dependent.

That's not a surprise, is it?

The economy did not approve and the fed decided not to taper.

There are uncertainties about washington and the talk about tapering of -- is affected by the sensitive cycles of the economy like housing.

There are discouraged workers and the labor force.

Your critics say you have been wrong and a single point but you got the vector right about growth.

How do we create global gdp?

How do we create growth?

It will be hard for the next few years because the process of de-leveraging still continues.

You still have high debt ratios in europe.

In the united states, we have not done much fiscal adjustment.

I think there will be slow economic growth.

It will be better next year.

2.4% next year in the u.s. is better than this year but it will still be below trend.

Many americans don't know you have written serious tapers and so does janet yellen.

What would be your recommendation if you were sitting at the fed?

She has her own strong views.

She might be chosen for the fed chair but she still has to go through the committee and they will go slow as to when they start tapering and when they start exiting zero policy rates and even slower when they will normalize rates.

It might take them three years.

Where is the inflation?

But-- there is no inflation.

There is no in flesh and.

There is no wage bargaining power.

The super cycle is over.

Credit growth is anemic so i think inflation in the u.s., europe, and japan and the uk will be slow in coming.

Nouriel roubini will continue with us in this hour.

Theatrics in the senate is next on "bloomberg surveillance," live this morning from new york city.

? "bloomberg surveillance," live this morning from new york city.

This text has been automatically generated. It may not be 100% accurate.

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