Soros expects global economy slow down in 2007

International financier George Soros said in Singapore Monday 9 January that he expects a global recession in 2007 if the U.S. housing market continues to cool after the Fed halts it rate hike campaign.

According to Channel News Asia report, Soros, who is in Singapore for a visit, predicted that the U.S. Federal Reserve will raise the Fed funds rate by another 50 basis points before putting a stop to this round of rate hikes.

He added that the housing bubble in the United States, where double-d