TELETRADER News
5/24, 7:04 PM
(Source: TeleTrader)
Without aggressive Fed, markets will crash - Ackman
Billionaire hedge fund manager Bill Ackman asserted on Tuesday that the United States Federal Reserve needs to tackle inflation in an aggressive manner or face a market crash and "destruction" of demand.
"In the last day or so, various current and former Fed members have waffled and made dovish remarks proposing a modest increase in rates and a pause in the fall. The Fed has already lost credibility for its misread and late pivot on inflation," he wrote in a tweet.
The Fed needs to "immediately" raise the rates to neutral and maintain a hawkish stance "until the inflation genie is back in the bottle," Ackman added.