Billionaire investor Bill Ackman says the Fed's inflation target isn't realistic anymore - and could result in a brutal recession

Dec 15 2022 by Business Insider

 
Bill Ackman.

REUTERS/Eduardo Munoz

Bill Ackman warned the Fed that slowing inflation to its 2% target is no longer realistic. He raised the prospect of a "deep, job-destroying recession" if the Fed tries to hit its goal. The billionaire investor argued a 3% target would foster greater economic growth and employment.

The Federal Reserve risks tanking the US economy if it tries to wrestle inflation back down to its target rate of 2% a year, and should embrace a 3% goal instead, Bill Ackman has...

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