Billionaire hedge fund investor Ken Griffin believes that a US recession is inevitable and could happen as soon as next year, according to a report by the Financial Times.
Speaking at CNBC’s Delivering Alpha conference in New York yesterday, the Citadel boss said that the only uncertainty is how hard the recession will be. And he believes the US Federal Reserve needs to do more to tackle inflation despite having raised its its benchmark rate by 0.75 percentage points for the third time in a row.
Griffin is not alone in predicting tough times ahead for the US economy with Fed chairman Jay Powell last week saying there was no “painless way” to bring inflation under control. Hedge fund veteran Stanley Druckenmiller meanwhile, speaking at the same conference as Griffin said he would be “stunned” if th US economy didn’t fall into recession next year.
