5/24, 7:04 PM (Source: TeleTrader)
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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.

Baha Breaking News (BBN) / BU