George Soros said the state of the U.S. economy was “blah” in a conversation organised by Thomson Reuters at the NASDAQ this morning.
The famed investor and political advocate called into question the U.S. political environment and its preoccupation with austerity over further stimulus.
Soros said that the U.S. was coming off a “super bubble” scenario, and that it would take time to repair the errors of the past 25 years.
He was certain that the U.S. economy was set to slowdown, but not positive it would experience a true double dip into recession.
In an effort to stimulate the economy, Soros suggested further stimulus that targeted infrastructure and education, in an effort to grow the economy now and positively benefit it in the long term.
In regards to further actions by the Fed, Soros said a second round of quantitative easing is unlikely to be effective due to a lack of demand in the economy.
Business Insider Emails & Alerts
Site highlights each day to your inbox.