- Bill Ackman said the Fed is likely done hiking interest rates as the economy starts to weaken.
- “High mortgage rates, high car rates, high credit card rates — they’re starting to have an impact on the economy,” he told CNBC.
- The billionaire investor is also betting that 30-year Treasury yields are going to rise further.
Bill Ackman, CEO of Pershing Square Capital Management, said that the Federal Reserve is likely done hiking interest rates as the economy begins to signal a slowdown, but warned spillover effects will continue.
The central bank has lifted rates 11 times since March 2022 to hose down inflation that had been running at the hottest pace in four decades. Inflation has since cooled sharply, but the latest reading on consumer prices showed a 3.7% annual increase, still above the Fed’s 2% target.
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