Challenges right now are a reduction in government spending and slowing housing recovery.
He sees continued GDP growth below 2%.
He thinks the Fed will either not start to taper or do it in a very limited fashion. He thinks interest rate areas of the economy have already been impacted by a rise in 10-year rates, and further rising wouldn't be positive.
In the video below Roubini weighs in on his view of other areas of the world as well.