NEW YORK (VINnews) — Prominent economist Nouriel Roubini, who predicted the 2008 financial crisis and earned the nickname “Dr. Doom,” said Friday there is more than a 50% chance the United States escalates its confrontation in Iran, warning of potential risks to the global economy and international stability.

Speaking at a gathering of economists and business leaders in Lake Como, Italy, Roubini said President Donald Trump is more likely to pursue escalation in an effort to secure a perceived win than to back down and risk broader geopolitical consequences.

“My baseline is that there is a more than 50% probability of escalation,” said Roubini, a former White House economist. “Escalating and losing is less likely than escalating and winning, but it’s a big risk to take.”

Roubini, chief executive of Roubini Macro Associates, is widely known for correctly forecasting the 2008 financial crisis, a call that cemented his reputation in financial markets and led to his “Dr. Doom” nickname.

He warned that a prolonged conflict could push oil prices higher, slow global growth and add pressure to already fragile inflation dynamics across major economies.

“Even if the war ends tomorrow, oil prices aren’t going to go back to where they were before,” he said.

He added that central banks, including the Federal Reserve, European Central Bank and Bank of England, could face renewed pressure to tighten policy if inflation expectations become entrenched.

His comments come amid continued tensions involving Iran and Israel and heightened concerns over potential disruptions to global energy supplies.