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Citadel’s Griffin Sees Pathway to a Recession

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Ken Griffin, billionaire investor and founder of Citadel and Citadel Securities, said the Federal Reserve needs to be more consistent in its communications to keep inflation under control, and is primed for a recession. says there is.

“If I had to say one thing to the (Fed) chairman, it would be to say not much. Just write a message. rice field. with Bloomberg.

Earlier Tuesday, Fed Chairman Jerome Powell said the Fed would need to raise rates more than expected to keep inflation in check. Previously, some market participants at one point read the Fed officials’ speeches as unhawkish.

“Part of how the Fed gets the job done is the American public’s perception that they can get the job done, so I truly believe that consistency in messaging is very important.” I believe the Fed will raise interest rates to around 5.5% to keep inflation down.

Still, the billionaire said he’s gearing up for a recession as the “pandemic orgy” of spending ends later this year or next year.

Griffin expressed concern about the impact of lengthy debates on the debt ceiling until a final deal is reached, but said common ground would be reached. “I think market volatility will drive that compromise.”

He said Citadel is now using the artificial intelligence tool ChatGPT to help developers write better code, translate software between languages, and analyze information across the company. We are in the process of negotiating a license.

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