Top Economist Warns Regulators Face ‘Mission Impossible’ Amid Inflation, Recession Risks

Top Economist Warns Regulators Face ‘Mission Impossible’ Amid Inflation, Recession Risks
NEW YORK, NEW YORK - SEPTEMBER 21: Dr. Nouriel Roubini, Professor, New York University speaks on stage for MegaThreats: Ten Dangerous Trends that Imperil Our Future, and How to Survive Them during The 2022 Concordia Annual Summit - Day 3 at Sheraton New York on September 21, 2022 in New York City. Photo by John Lamparski/Getty Images for Concordia Summit
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Economist and New York University professor Nouriel Roubini, often referred to as “Doctor Doom” for his pessimistic economic forecasts, said the Federal Reserve is facing “Mission Impossible” as inflation remains persistent and fissures appear in the banking sector.
Speaking at Semafor’s World Economy Summit on Wednesday, Roubini expressed concerns about the fragility of the banking sector, citing a multitude of factors that could lead to a severe financial crisis. Global debt levels, artificial intelligence-induced job losses, growing radicalism, wealth inequality, and escalating geopolitical tensions were just a few of the categories he listed.