Ackman and Musk weigh in on Fed hikes and banking crisis.
TL;DR
Billionaire investor Bill Ackman has warned that the ongoing banking crisis could severely damage the US economy if not resolved quickly. He cautioned the Federal Reserve against hiking interest rates before the financial system stabilizes. Ackman also predicted elevated inflation for years to come and touted blockchain's disruptive potential. He called for Elon Musk's loans against his Tesla stock to be taxed and suggested JPMorgan CEO Jamie Dimon would make an excellent US president.
- Ackman on banking crisis, Fed hikes, Musk, Dimon, inflation, blockchain Markets Insider
- Ackman Warns of Accelerated Deposit Outflows After Fed Decision Bloomberg
- Elon Musk: Foolish Fed Rate Hike Will Worsen Depositor Flight - Invesco QQQ Trust, Series 1 (NASDAQ:QQQ), SPDR S&P 500 (ARCA:SPY) Benzinga
- Elon Musk says ChatGPT 'couldn't do worse' than Fed boss Powell after hike Markets Insider
- Elon Musk says what he thinks the Fed should do with interest rates Yahoo Finance
Want the full story? Read the original reporting
Read on Markets Insider