Soros: U.S. recession may occur in '07

CNN reports:

Billionaire investor George Soros said Monday the Federal Reserve might overshoot in its bid to tighten monetary policy, deflating housing prices and tipping the economy into recession in 2007.

A collapse in U.S. housing prices could be associated with a dollar decline, scuppering the Fed's attempt to engineer a "soft-landing" for the economy, Soros told an audience at the Singapore Institute of International Affairs.