Hedge Fund chief Bill Ackman says Federal Reserve will cut rates sooner than expected

Acman interviewed on Bloomberg TV, main points:

  • I do think the economy is weakening.
    We’re seeing evidence of that in some of our companies you’re seeing.
  • what’s going to be
    interesting is to see what happens when people have to reprice their debt.
    And I think that can have sort of a cliff like effect.
    And you’re certainly seeing that in real estate on the markets are assuming and
    the markets are not always right, but the markets are assuming that there’s
    going to be a Fed cut sometime next year.
  • Fed … I think they’re going to cut rates and I
    think they’re going to cut rates sooner than people expect
  • I think the market expects sometime middle of next year.
    I think it’s more likely probably as early as Q1.

Earlier we had some dovish remarks from Fed officials:

Bill Ackman, founder and CEO of Pershing Square Capital Management

This article was written by Eamonn Sheridan at www.forexlive.com. Source