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Soros predicts US economy will slip into recession in 2007 By John Burton in Singapore Published: January 10 2006 02:00 | Last updated: January 10 2006 02:00 George Soros, the US financier, yesterday predicted that the US economy could suffer a recession in 2007 owing to falling housing prices as the US tightens interest rates, with a "reasonably significant chance" that the global economy could slow as a result. There was a risk that the US Federal Reserve would raise interest rates more than necessary to curb inflation, resulting in a hard landing for the US economy, Mr Soros told a forum of the Singapore Institute of International Affairs. He expected the federal fund rate to peak at 4.75 per cent, up from 4.25 per cent. Although the Fed is aware of the dangers, "almost inevitably, they have got to overshoot because they can't stop [raising interest rates] until the economy shows signs of a slowdown. By the time it shows those signs, it may be a little too late". ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Message: http://www.houseoffusion.com/lists.cfm/link=i:5:191759 Archives: http://www.houseoffusion.com/cf_lists/threads.cfm/5 Subscription: http://www.houseoffusion.com/lists.cfm/link=s:5 Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.5 Donations & Support: http://www.houseoffusion.com/tiny.cfm/54
