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Ackman predicts increase in US long-term rates

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Bill Ackman, the CEO of hedge fund Pershing Square Capital, has predicted further increases for 30-year US interest rates, while his fund remains short on bonds due to the prospect of inflation remaining at an elevated level, according to a report by Reuters.

The report cites comments made by Ackman following the US Federal Reserve’s decision to hold interest rates while adopting a more hawkish stance on monetary policy aimed at facilitating a ‘soft landing’ for the US economy, by lowering inflation without incurring large job losses.

In a post on social media platform X, Ackman posted: “The long-term inflation rate is not going back to 2% no matter how many times Chairman Powell reiterates it as his target.

“The long-term inflation rate plus the real rate of interest plus term premium suggests that 5.5% is an appropriate yield for 30-year Treasurys,” he said, adding he was surprised at how low long-term rates are.

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