Billionaire Bill Ackman calls for a sudden drop in Fed rates, warns the US economy to decelerate
The billionaire hedge feast manager, Bill Ackman, believes that the federal reserve should soon reduce prices in the midst of a weakened American economy.
In a new interview with CNBC, the founder and CEO of Pershing Square Capital Management said that President Trump's release day sparked the economy.
On April 2, baptized by Trump as the Liberation Day, Trump slapped a set of radical prices on all foreign products entering the United States, aimed at revitalizing national manufacturing. The president also imposed reciprocal rates on dozens of nations based on unfair negotiation practices.
Said Ackman,
“I think that a small cup relatively soon is logical because I think what happened is the Q1 benefiting from the download of purchases and a little prices. The uncertainty associated with the Liberation Day, so to speak, has made sure that many companies are taking a break and are waiting to see what will happen, and this will be reflected in the first quarter.
There is certainly a deceleration in the economy now, absolutely. I think what is important is that the prices are resolved in the short term in the short term. »»
While Ackman calls for a steep drop in rates, data from the CME group's Fed watch tool suggest That there are 95.2% chance that political decision-makers maintain stable interest rates this month.
The Federal Open Market Committee is expected To announce its decision on May 7.
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