Bill Ackman Bets On Potential Fed Interest Rate Reduction in First Quarter

Benzinga ·  11/29/2023 11:28

Bill Ackman, the billionaire founder of Pershing Square Capital Management, anticipates the Federal Reserve to initiate interest rate cuts sooner than market predictions.What Happened: Ackman predicts the rate cuts could take place as early as the coming quarter, Bloomberg reported. Currently, market data from swaps suggests an 80% likelihood of a rate cut by May, with traders fully expecting a cut by June.Despite the steepest rate hike in 40 years that started in March 2022, the central bank has yet to implement any rate cuts, even amid a general slowdown in U.S. inflation this year.Ackman expressed his apprehensions about

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