Roubini, who predicted the 2008 crisis, predicts a recession in the US economy

American economist Nouriel Roubini expects that the US banking system will experience significant difficulties in the near future. According to him, given the current conditions, the likelihood of a recession in the US economy is greatly increased.

According to Nouriel Roubini, the main problem lies in the regional banks that issue mortgage loans, commercial real estate, as well as business and small and medium-sized enterprises. Since the failure of Silicon Valley Bank, smaller banks have made it harder to make loans. “The United States is heading towards a credit crunch that will send the economy into recession,” he said (quoted from Fox Business).

“This crisis will greatly increase the likelihood of a recession, much more severe than it was before. Thus, we are facing a dangerous challenge for a large part of the American banking system,” concluded Mr. Roubini.

On March 10, Sillicon Valley Bank, which is the 16th largest bank in the US, announced about bankruptcy. It was the largest since the 2008 crisis. On March 12, Signature Bank was closed in the United States due to systemic risks. March 27 became knownthat North Carolina-based banking holding First Citizens will purchase all deposits and loans from Silicon Valley Bridge Bank, an SVB sanatorium, for approximately $72 billion at a $16.5 billion discount.

More details – in the material “Kommersant” “Citizen Savior”.