Stock market prices will continue to rise for the next two years until the wealth gap between Wall Street and Main Street gets too high and reality sets in, economist Nouriel Roubini told CNBC.
Worry about the Federal Reserve backing off its historically unprecedented monetary easing is premature, Roubini said, as economic growth is too tenuous and the market too dependent on the $85 billion in monthly asset purchases from the central bank.
"Growth is not going to pick up and inflation actually is falling," the head of Roubini Global Economics and noted "Dr. Doom" told "Closing Bell." "So the markets are worried about tapering off sooner, but I think tapering off is going to occur later and therefore the market is going to rally."
Stocks have staged a huge surge this year despite tepid economic growth, with the Standard & Poor's 500 rising 0.6 percent Monday and 15 percent for 2015.