Ackman: Fed probably done raising rates
Pershing Square Capital Management CEO Bill Ackman said on Monday that the United States Federal Reserve is "probably done" hiking interest rates. In a CNBC interview, he said the US economy is "starting to slow" and that the level of real interest rates is high enough to bring down inflation.
Ackman said high mortgage and credit card rates are "starting to really have an impact on the economy" and that he is seeing "lots of evidence of weakening in the economy." He predicted that the 30-year Treasury bond yields could reach the "mid-5%" range, while the 10-year yields are unlikely to go "meaningfully above 5%."