Soros: The U.S. economy is in for a "Lasting Slowdown"

Monday, October 12, 2009

The U.S. economy is in for a "lasting slowdown" and could face a Japan-style period of relatively low growth coupled with high inflation, billionaire investor George Soros.

"I don't expect the U.S. economy to recover in the third or fourth quarter so I think we are in for a pretty lasting slowdown," Soros said, adding that in 2010 there might be "something" in terms of U.S. growth.

So George Soros is quite pessimistic on the US economic recovery.

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