Roubini thinks that the Fed is doing the right thing with its program of quantitative easing for now. His concern is that there is already frothiness in credit markets and we are likely three or four years from the Fed fully reversing its policy.
The good news for investors is that Roubini thinks there will be a big party in asset prices for the next two years.
Right now Roubini doesn't see any big bubbles but thinks that by the end of the policy, three or four years from now, there is a real risk of a big bubble and subsequent crash.
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