Forbes - the CEO of Forbes Inc. and editor-in-chief of Forbes magazine - said he expected the US economy to slow down in the latter half of the year due to the credit crisis, but added that fundamentals remained strong.
"It will slow down in the second half of this year because of the repercussions of the crisis," he said. "Next year it should start to pick up again, especially in spring time."
Forbes also warned of a rising tide of protectionism in the United States - particularly in the Democratic Party - and elsewhere.
"Make no mistake, even though the global economy is doing very well, protectionist pressures are very strong in the US, you see it in Europe, you see it elsewhere," he said. "In the Democratic Party, protectionism is now rampant."
"It's going to take strong political leadership to keep these forces at bay," Forbes said. "Because if they're not kept in control, then this great global boom will cease to exist."
