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Pessimism Reigns at Qatar Forum

Nouriel Roubini speaks during a panel session at the Qatar Economic Forum in Doha on June 21. Photographer: Christopher Pike/Bloomberg

Nouriel Roubini speaks during a panel session at the Qatar Economic Forum in Doha on June 21. Photographer: Christopher Pike/Bloomberg

Delegates at the second annual Qatar Economic Forum last week painted an increasingly pessimistic picture of the state of the economy.

Nouriel Roubini, nicknamed “Dr. Doom” for his bearish views, forecast a US recession by the end of the year. History suggests that whenever inflation in the US is above 5% and unemployment is below 5%, “any attempt by the Fed to essentially raise rates to fight inflation causes a hard landing rather than a soft landing,” he said.