Policy Communication Seminar

The Risk of a U.S. Hard Landing and Implications for the Global Economy and Financial Markets

Talk by Nouriel Roubini, New York University

Charles Collyns, Deputy Director, Research Department, IMF

September 13, 2007; 3:30 - 4:30 p.m.
IMF HQ1-Auditorium, RD-710

720 19th Street NW, Washington, DC

Open to Fund/Bank Staff and the Public

transcript of the Seminar View Webcast

Nouriel Roubini has been warning for over a year of the likelihood of a recession in the United States and a global hard landing. In this talk, Professor Roubini provides an updated assessment of the U.S. and global economic and financial conditions, particularly after the recent release of U.S. employment data for August. He will discuss the basis for his predictions that home prices will fall by 15% or more over the next two years and that financial markets turmoil will get worse—not better—in the next few months. Roubini will also discuss what impact actions by the Federal Reserve and other central banks can have and whether the rest of the world can decouple from a U.S. hard landing.


Nouriel Roubini, Professor of Economics and International Business at New York University’s Stern School of Business, is a noted academic, policymaker and entrepreneur. He served as an advisor to the U.S. Treasury during the Clinton Administration. During the Asian crisis, his webpage—which has since morphed into the Roubini Global Economics Monitor—became the first port-of-call for those following the crisis.

Please note that due to enhanced security arrangements:

1. An RSVP is required: EXRPOLICYCOM@imf.org or (202) 623 6360.

2. Guests should present a photo identification and use the IMF Center entrance at 720 19th St. N.W. Washington DC (at the white tent). Only IMF/World Bank staff should enter through the main 700 19th St. entrance.