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Financial

Double-Dip Recession Still in the Picture: Roubini

The United States, Europe and Japan still face the possibility of a double-dip recession and at the very least will experience below-potential economic growth for the next couple of years, economist Nouriel Roubini told CNBC Monday. The double-dip is still possible because of very large budget deficits that are being monetized by monetary-policy authorities, Roubini, co-founder and chairman of RGE Monitor, said, speaking at the Diggers and Dealers mining conference in Kalgoorlie, Australia. If central banks continue to monetize the deficits, “long-term bond yields may go higher, and they may crowd out the economic recovery leading to a double dip,” he said. -cnbc

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