US in Recession, Set to Worsen, Says Investor Rogers

The United States economy is already in recession and is set for a further slowdown with the dollar expected to remain under pressure, investment guru Jim Rogers said on Monday.

Last week the U.S. central bank sharply lowered its forecast for U.S. economic growth in 2008 and said it was worried the economy could face further setbacks even after a series of aggressive interest rate cuts.

"The U.S. is in recession," Rogers told reporters on a visit to Dublin. "It is going to get worse."