Predicting recessions is fun for the whole family. Even George Soros is doing it. The billionaire believes the Federal Reserve will tighten monetary policy too much, resulting in a “hard landing” for the economy in 2007.
Less famous people are predicting the same. James F. Smith, who served as an economist for the Fed in the 1970s, is also predicting 2007 will see the recession.
Updated July 16, 2010 and originally published January 9, 2006. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.