DIRS.INFO The most relevant business & tech news

☆ Bill Ackman covers bet against Treasurys, says 'too much risk in the world' to bet against bonds
▼ + stars: | 2023-10-23 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Bill Ackman, Pershing Square Capital Management CEO, speaking at the Delivering Alpha conference in NYC on Sept. 28th, 2023. Pershing Square's Bill Ackman revealed Monday he covered his bet against long-term Treasurys, believing that investors may increasingly buy bonds as a safe haven because of growing geopolitical risks, the latest of which being the Israel-Hamas war. The 30-year Treasury yield has risen more than 80 basis points since the end of August, making Ackman's bet profitable. Bond prices move inversely to yields, so Ackman's bet against bonds was, in effect, a gamble on higher rates. The 30-year Treasury yield fell 6 basis points to 5.01% on Monday after Ackman's comments.

Persons: Bill Ackman, Pershing, Ackman, Ackman's Organizations: Pershing, Capital Management, Delivering Alpha, Treasury Locations: Israel

The benchmark S&P 500 index (.SPX) bounced above 4200, a key technical level, after falling almost a percent during the open. Microsoft (MSFT.O), Alphabet (GOOGL.O), Amazon.com (AMZN.O) and Meta Platforms (META.O), which have helped power the S&P 500 (.SPX) higher in 2023 while the other indexes lagged, report later this week. Chipmaker Intel (INTC.O), oil major Exxon Mobil (XOM.N), General Motors (GM.N) are among other major companies set to report results this week. Overall, earnings are expected to grow at 1.2% in the third quarter for S&P 500 companies, as per LSEG data. Seven of the 11 major S&P 500 sub sectors were in the green, with industrials (.SPLRCI) and communication services (.SPLRCL) leading gains.

Persons: Brendan McDermid, Hess, Bill Ackman's, David Bahnsen, Piper Sandler, Morgan, advancers, Shubham Batra, Shashwat Chauhan, Sriraj Kalluvila, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Chevron, Walgreens, Dow, Nasdaq, Capital Management, Microsoft, Intel, Exxon Mobil, General Motors, Dow Jones, Walgreens Boots Alliance, Hess Corp, FMC, NYSE, Thomson Locations: New York City, U.S, East, Israel, Gaza, Lebanon, Bengaluru

The logo for Vanguard is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 1, 2022. Despite a "cruel summer for bond investors," long-term bonds continue to remain attractive as the economy will likely enter a shallow recession next year, the world's second-largest asset manager said in a fixed income outlook seen by Reuters. "The relative advantage short-term government bonds have can fade quickly, and investors can fare better when they lock in higher rates for longer," Vanguard said. Vanguard said it expects interest rates will not be cut until at least mid-2024, and that bond yields will not return to the low levels that characterized the U.S. bond market in recent history. "We view high-quality corporates as one of the more attractive places to be in credit," Vanguard said.

Persons: Brendan McDermid, Bill Ackman, Davide Barbuscia, Ira Iosebashvili, Will Dunham Organizations: Vanguard, New York Stock Exchange, REUTERS, Federal, Reuters, U.S, Treasury, Pershing, Capital, Thomson Locations: New York City, U.S

☆ Billionaire investor Ackman says 'covered our bond short'
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +1 min

Bill Ackman, chief executive officer and portfolio manager at Pershing Square Capital Management, speaks during the SALT conference in Las Vegas, Nevada, U.S. May 18, 2017. REUTERS/Richard Brian/File Photo Acquire Licensing RightsOct 23 (Reuters) - Bill Ackman's hedge fund Pershing Square Capital Management has covered its bond short position, the billionaire investor posted on Monday, saying it was too risky to remain short bonds at current long-term rates. Pershing Square Capital Management did not immediately respond to a Reuters request for additional comment. "The economy is slowing faster than recent data suggests," Ackman wrote on messaging platform X, formerly known as Twitter. One of Wall Street's most voluble investors, Ackman has been using the social media platform to express his opinion on economic policy and presidential politics.

Persons: Bill Ackman, Richard Brian, Bill Ackman's, Ackman, Jaiveer Singh, Shilpi Majumdar Organizations: Pershing Square Capital Management, REUTERS, Capital Management, U.S, Pershing, Twitter, Treasury, Thomson Locations: Las Vegas , Nevada, U.S, Bengaluru

☆ Bill Ackman's misguided Harvard crusade
▼ + stars: | 2023-10-13 | by ( Linette Lopez | ) www.businessinsider.com time to read: +6 min

"The names of the signatories should be made public," Ackman fumed, "so their views are publicly known." Look, it's classic Wall Street to complain about the younger generation being a bunch of good-for-nothing freaks. It's also classic Wall Street to throw money around as a way to exercise power over institutions, forcing rivals you dislike to bend the knee. In his initial post, Ackman said that "a number of CEOs" shared his desire to publicly out the Harvard students. AdvertisementAdvertisementOn Wall Street, Ackman is known as the king of uninformed, unnecessary, and seemingly unlimited tweets — a breathtaking achievement in an industry full of workaholic, screen-addicted information junkies.

Persons: Bill Ackman, —, Ackman, Larry Summers, Joe McCarthy, Mark Rowan, It's, it's, he's, JC Penney, Michael Pearson, Herbalife, Sam Bankman, Pershing, Linette Lopez Organizations: Pershing, Capital Management, Harvard, Wall, Treasury, Apollo Global Management, University of Pennsylvania, JC, isn't Locations: Israel, Canadian, Washington, Palestine

☆ CEOs call on Harvard to name students linked to statement blaming Israel for Hamas attack
▼ + stars: | 2023-10-11 | by ( Matt Egan | ) edition.cnn.com time to read: +7 min

The CEO of Pershing Square Capital Management said he wanted to ensure his company and others don’t “inadvertently hire” any students belonging to Harvard groups that signed the letter. Following a backlash to the statement, some of the student groups have since withdrawn their endorsements. Others warn that naming the students whose groups backed the statement could put the students in harms way and did not account for differences of opinion within the student groups. But Harvard President Claudine Gay issued a statement Tuesday saying “no student group – not even 30 student groups – speaks for Harvard University or its leadership.”Harvard student groups’ statementThe controversy comes in response to a joint statement released by a coalition of Harvard student groups following the attacks by Hamas that have killed more than 1,000 Israelis and at least 14 American citizens. Another Harvard student, Danielle Mikaelian, said she resigned from the board of a group that signed the statement on Israel and didn’t have a chance to read it until it was too late.

Persons: Bill Ackman, ” Ackman, don’t “, “, Jonathan Neman, Ackman, Stephen Sullivan, Claudine Gay, –, ”, ” Jake Wurzak, shouldn’t, ” Wurzak, Mohini Tangri, Tangri, Danielle Mikaelian, didn’t, ” Mikaelian, Israel “, Winston, Strawn, “ Winston, Larry Summers, Summers, Bill Clinton, ” Gay, Jonathan Greenblatt, CNN’s Kristina Sgueglia, Sabrina Shulman Organizations: New, New York CNN, Billionaire, Harvard University, Pershing, Capital Management, Harvard, Dovehill Capital Management, Forbes . Harvard University, ” Harvard, Harvard Palestine Solidarity Groups, Harvard Crimson, Harvard Undergraduate Nepali Student Association, Crimson, Harvard Law School, NYU Student Bar Association, NYU, Winston, Defamation League, ADL, Accenture, Adidas, NBA, CNBC Locations: New York, Israel, Gaza

☆ Apollo CEO is calling for University of Pennsylvania leaders to resign after he says they refused to strongly condemn antisemitism
▼ + stars: | 2023-10-11 | by ( Madeline Berg | ) www.businessinsider.com time to read: +4 min

Apollo Global Management CEO Marc Rowan is calling for University of Pennsylvania leaders to resign. AdvertisementAdvertisementApollo Global Management CEO Marc Rowan is the latest business leader to slam an Ivy League institution for not taking a stronger stance against what he called antisemitism. AdvertisementAdvertisementAt the time, the university responded, saying in a statement that "we unequivocally — and emphatically — condemn antisemitism as antithetical to our institutional values." But, in light of the attack by Hamas on Israel, Rowan has said the response was not enough. "We see sickening parallels between Harvard leadership's inaction against Harvard's antisemitism and the failure by UPenn's leadership to take a stand against hate," Rowan wrote in his letter.

Persons: Marc Rowan, Hedge, Bill Ackman, Israel, —, Elizabeth Magill, Scott Bok, Rowan, Magill, Magill's, didn't, Pink Floyd, Roger Waters, Carolyn, Ackman, Jonathan Newman, Jake Wurzak, Penn Organizations: Apollo Global Management, University of Pennsylvania, Hamas, Harvard, Service, Global Management, Ivy League, Daily, Defamation League, Jewish, Wharton School's, Advisors, Pershing, Capital Management, Dovehill Capital Management Locations: Israel, UPenn, mater

☆ Peltz's Trian up 3% this year even as Disney bet soured
▼ + stars: | 2023-10-10 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +1 min

NEW YORK, Oct 10 (Reuters) - Nelson Peltz's Trian Fund Management returned nearly 3% in the first nine months of the year, investors said on Tuesday, as his bet on Walt Disney Co (DIS.N) contributed to the activist hedge fund lagging its peers' returns. Disney's stock price has tumbled roughly 30% since February, when Peltz ended a battle for a board seat but kept Trian invested in the stock. Some blue-chip activist investors, including Bill Ackman's Pershing Square Capital Management and Jeff Smith's Starboard Value, are posting better numbers. The average activist investor gained nearly 7% through the end of September, according to Hedge Fund Research data. At the end of June, the average activist investor was up 11.5% while Trian was up roughly 6%, HFR data and investors said.

Persons: Nelson, Peltz, Trian, Janus Henderson, Trian's, Bill Ackman's, Jeff Smith's, Svea Herbst, Bayliss, Nick Zieminski Organizations: Fund Management, Walt Disney Co, Disney, Reuters, Janus Henderson Group, Ferguson, Bill Ackman's Pershing, Capital Management, Pershing, Fund Research, Svea, Thomson Locations: Boston

☆ Bill Ackman calls on Harvard to release the names of students in groups holding Israel responsible for Hamas violence — so CEOs don't 'inadvertently hire' them
▼ + stars: | 2023-10-10 | by ( Madeline Berg | ) www.businessinsider.com time to read: +4 min

Bill Ackman is calling on Harvard to release the names of students who are part of groups that signed a letter solely blaming Israel for the crisis in Gaza. The billionaire says he and other CEOs want to know so they don't "inadvertently hire any of their members." The letter has drawn backlash from many Harvard alums, including Ackman, for its staunch position. AdvertisementAdvertisementBillionaire hedge fund manager Bill Ackman has called on Harvard University to release the names of students who are members of organizations that signed a letter saying Israel is "entirely responsible" for the violence unfolding in the region. His request to release students' names has received a mixed response on Twitter — certainly not everyone agreed.

Persons: Bill Ackman, Israel, —, Ackman, Ian Bremmer, Larry Summers, Seth Moulton, Ted Cruz, Hama, Claudine Gay Organizations: Harvard, Service, Harvard University, Eurasia Group, Harvard Palestine Solidarity Groups, Harvard Palestine Solidarity Committee, US, Pershing, Capital Management, Pershing Square Foundation, Center for Jewish, Rights Watch, America, Twitter Locations: Gaza, Israel, Harvard Palestine, Harvard

☆ Explainer: How Bill Ackman's SPARC differs from a SPAC
▼ + stars: | 2023-10-02 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +3 min

Here's how a SPARC differs from a SPAC:DEAL VISIBILITYOne of the biggest differences is a SPARC doesn't require up-front money from investors like a SPAC does. SPAC investors are then given the option to vote down an acquisition or redeem their shares once a deal has been announced. SPARC will only ask for money from investors once it has clinched and disclosed a deal to buy a company. CAPITAL FLEXIBILITYUnlike a SPAC, the amount of money SPARC seeks from investors will vary based on the size of the deal it pursues. This means that SPARC investors will not be diluted by such warrants and will get to keep more of the company.

Persons: Bill Ackman, Richard Brian, Bill Ackman's, Ackman, Tontine, Svea Herbst, Bayliss, Lisa Shumaker Organizations: Pershing Square Capital Management, REUTERS, Pershing Square SPARC Holdings, SPARC, U.S . Securities, Exchange Commission, SEC, Pershing, Tontine Holdings, Universal Music Group, SPACs, Svea, Thomson Locations: Las Vegas , Nevada, U.S, New York, Rhode Island

☆ Bill Ackman: Seeing lots of evidence of weakening in the economy
▼ + stars: | 2023-10-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBill Ackman: Seeing lots of evidence of weakening in the economyBill Ackman, Pershing Square Capital Management founder and CEO, joins 'Squawk Box' to discuss the regulatory approval of a unique SPAC structure called SPARC — a special purpose acquisition rights company — in which Ackman will inform investors of a potential acquisition before they pledge funds, potential interest in Elon Musk's X, the state of the U.S. economy, the Fed's inflation fight, and more.

Persons: Bill Ackman, Elon Musk's Organizations: Pershing, Capital Management, Elon Locations: U.S

☆ Bill Ackman on new 'SPARC' structure, potential deal with Elon Musk's X
▼ + stars: | 2023-10-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBill Ackman on new 'SPARC' structure, potential deal with Elon Musk's XBill Ackman, Pershing Square Capital Management founder and CEO, joins 'Squawk Box' to discuss the regulatory approval of a unique SPAC structure called SPARC — a special purpose acquisition rights company — in which Ackman will inform investors of a potential acquisition before they pledge funds, potential interest in Elon Musk's X, the state of the U.S. economy, the Fed's inflation fight, and more.

Persons: Bill Ackman, Elon Musk's Organizations: SPARC, Elon, Pershing, Capital Management Locations: U.S

☆ Watch CNBC's full interview with Pershing Square Capital Management CEO Bill Ackman
▼ + stars: | 2023-10-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Pershing Square Capital Management CEO Bill AckmanBill Ackman, Pershing Square Capital Management founder and CEO, joins 'Squawk Box' to discuss the regulatory approval of a unique SPAC structure called SPARC — a special purpose acquisition rights company — in which Ackman will inform investors of a potential acquisition before they pledge funds, potential interest in Elon Musk's X, the state of the U.S. economy, the Fed's inflation fight, and more.

Persons: Bill Ackman Bill Ackman, Elon Musk's Organizations: Pershing Square Capital Management, Pershing, Capital Management, Elon Locations: U.S

☆ Ackman's SPARC is seeking new deals with private companies
▼ + stars: | 2023-10-01 | by ( ) www.reuters.com time to read: +1 min

Bill Ackman, chief executive officer and portfolio manager at Pershing Square Capital Management, speaks during the SALT conference in Las Vegas, Nevada, U.S. May 18, 2017. REUTERS/Richard Brian/File Photo Acquire Licensing RightsOct 1 (Reuters) - Pershing Square SPARC Holdings Ltd, said that it will pursue business combinations with privately-held companies after receiving regulatory approval from U.S regulators for distributing special purpose acquisition rights. The SPARC, an affiliate of billionaire investor Bill Ackman's Pershing Square Tontine Holdings Ltd, is targeting companies that seek to raise a minimum of $1.5 billion of capital, it said in a regulatory filing on Friday. Ackman's SPARC is a variation of a special purpose acquisition company (SPAC), the market for which has cooled since its peak in 2021 as investors nursed losses on many deals. Ackman added that he has no idea if X is interested and would still need to determine whether or not a deal is doable.

Persons: Bill Ackman, Richard Brian, Bill Ackman's, Elon Musk's, Ackman, Elon Musk, Jose Joseph Organizations: Pershing Square Capital Management, REUTERS, Pershing Square SPARC Holdings Ltd, SPARC, Tontine Holdings, Wall, Elon, Thomson Locations: Las Vegas , Nevada, U.S, Bengaluru

☆ Bill Ackman reportedly said he would 'absolutely' do a deal with X with his new SPARC funding vehicle
▼ + stars: | 2023-10-01 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +2 min

Billionaire investor Bill Ackman would "absolutely" do a deal with X, the social platform previously known as Twitter, with his newly approved investment vehicle, Ackman told The Wall Street Journal in a story published on Sunday. On Friday, Ackman announced that the Securities and Exchange Commission approved his new financing vehicle, which he is calling a SPARC — a special purpose acquisition rights company. Ackman told the Journal that he would "absolutely" consider using his newly formed SPARC to invest in X, the social media platform previously known as Twitter. Investors interested in the SPARC were directed to follow Bill Ackman's account on X for more information, according to the press release announcing the regulatory approval of the investment vehicle. "Taking X public would expose X to financial and governance regulatory transparency and accountability; which is why I'm skeptical it'll happen," Jagolinzer said in a post on X.

Persons: Bill Ackman, Ackman, Bill Ackman's, Vivek Ramaswamy, Robert Francis Kennedy Jr, Elon Musk, Alan D, Jagolinzer Organizations: Wall Street, Securities and Exchange Commission, SPARC, Pershing, Twitter, Pershing Square Capital Management, CNBC, U.S, University of Cambridge Judge Business School

☆ CNBC Daily Open: Long-term prospects are uncertain
▼ + stars: | 2023-09-29 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

People walk outside of the New York Stock Exchange (NYSE) in the financial district in Manhattan on June 14, 2022 in New York City. This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Big population but small labor forceEven though India's population of 1.428 billion has surpassed that of China's, according to UN estimates, the country's labor force is only at 51%, trailing behind China's 75%. When that happens, this simple bond trade can earn you 40% in returns, said investment analysts.

Persons: Hong, Bill Ackman, Rick Rieder, Katie Koch Organizations: New York Stock Exchange, CNBC, Nikkei, Alpha, Pershing, Capital Management, Treasury, BlackRock, Federal, TCW, China's, Oxford Economics Locations: Manhattan, New York City, Asia, Pacific, Tokyo, U.S, China

☆ Bill Ackman believes the 10-year Treasury yield could approach 5% soon
▼ + stars: | 2023-09-28 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Billionaire hedge fund manager Bill Ackman believes long-term Treasury yields can shoot even higher in the short run on the back of stubborn inflation. "I would not be shocked to see 30-year rates through the 5% barrier, and you could see the 10-year approach 5%," he told CNBC's Scott Wapner at the CNBC Delivering Alpha Investor Summit on Thursday in New York City. "You have a generation of people that are used to rates, you know, four sounding like a high interest rate. The benchmark 10-year Treasury yield hit a 15-year high this week, topping 4.65%, as the Federal Reserve signaled higher interest rates for longer this month. The 30-year rate last traded around 4.71%.

Persons: Bill Ackman, CNBC's Scott Wapner Organizations: CNBC, Alpha, Pershing, Capital Management, Reserve, Treasury, Federal Reserve Locations: New York City

☆ Billionaire investor Bill Ackman: I'm a Warren Buffett devotee
▼ + stars: | 2023-09-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBillionaire investor Bill Ackman: I'm a Warren Buffett devoteePershing Square Capital Management CEO Bill Ackman joins CNBC's Delivering Alpha 2023 conference to discuss his meeting with Ukrainian President Volodymyr Zelenskyy, Treasury yields, and more.

Persons: Bill Ackman, Warren Buffett, Volodymyr Zelenskyy Organizations: Billionaire, Capital Management, CNBC's, Alpha

☆ Billionaire investor Bill Ackman: I'm very bullish on Ukraine post-war
▼ + stars: | 2023-09-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBillionaire investor Bill Ackman: I'm very bullish on Ukraine post-warPershing Square Capital Management CEO Bill Ackman joins CNBC's Delivering Alpha 2023 conference to discuss his meeting with Ukrainian President Volodymyr Zelenskyy.

Persons: Bill Ackman, Volodymyr Zelenskyy Organizations: Billionaire, Pershing, Capital Management, CNBC's, Alpha Locations: Ukraine

☆ Billionaire investor Bill Ackman: Alphabet will be a dominant player in AI
▼ + stars: | 2023-09-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBillionaire investor Bill Ackman: Alphabet will be a dominant player in AIPershing Square Capital Management CEO Bill Ackman joins CNBC's Delivering Alpha 2023 conference to discuss his meeting with Ukrainian President Volodymyr Zelenskyy, Treasury yields, and more.

Persons: Bill Ackman, Volodymyr Zelenskyy Organizations: Billionaire, Pershing Square Capital Management, CNBC's, Alpha

☆ Billionaire investor Bill Ackman: I am very bullish on Ukraine post-war
▼ + stars: | 2023-09-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBillionaire investor Bill Ackman: I am very bullish on Ukraine post-warPershing Square Capital Management CEO Bill Ackman joins CNBC's Delivering Alpha 2023 conference to discuss his meeting with Ukrainian President Volodymyr Zelenskyy, Treasury yields, and more.

Persons: Bill Ackman, Volodymyr Zelenskyy Organizations: Billionaire, Pershing, Capital Management, CNBC's, Alpha Locations: Ukraine

☆ Billionaire investor Bill Ackman: Kennedy made me think about risk vs. reward with vaccines
▼ + stars: | 2023-09-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBillionaire investor Bill Ackman: Kennedy made me think about risk vs. reward with vaccinesPershing Square Capital Management CEO Bill Ackman joins CNBC's Delivering Alpha 2023 conference to discuss his meeting with Ukrainian President Volodymyr Zelenskyy, Treasury yields, and more.

Persons: Bill Ackman, Kennedy, Volodymyr Zelenskyy Organizations: Billionaire, Pershing, Capital Management, CNBC's, Alpha

☆ 30-year Treasury is not an instrument for speculating on the economy, says Pershing's Bill Ackman
▼ + stars: | 2023-09-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email30-year Treasury is not an instrument for speculating on the economy, says Pershing's Bill AckmanPershing Square Capital Management CEO Bill Ackman joins CNBC's Delivering Alpha 2023 conference to discuss his meeting with Ukrainian President Volodymyr Zelenskyy, Treasury yields, and more.

Persons: Bill Ackman, Volodymyr Zelenskyy Organizations: Treasury, Bill Ackman Pershing, Capital Management, CNBC's, Alpha

☆ Billionaire investor Bill Ackman's answer to the RTO pushback is to let employees work from anywhere in July and August
▼ + stars: | 2023-09-22 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

Billionaire investor Bill Ackman seems to have found a formula against the return-to-office pushback. His employees at Pershing Square can work from anywhere in July and August. Ackman said the arrangement has been working well for Pershing Square staff, who like the balance. While many companies are still trying to figure out the best work arrangements amid pushback against RTO orders, billionaire investor Bill Ackman appears to have found a solution he thinks is working. Pershing Square did not immediately respond to a request for comment from Insider sent outside regular business hours.

Persons: Bill Ackman, Ackman, that's, Ackman's, Elon Musk, Jamie Dimon, Marc Andreessen, Dimon, Musk Organizations: Pershing, Pershing Square, Service, Capital Management, New York, Forbes, SpaceX, JPMorgan, CNBC Locations: Wall, Silicon

☆ Billionaire investor Bill Ackman says the Fed's fight against inflation may never end due to strikes and soaring gas prices
▼ + stars: | 2023-09-22 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

"The long-term inflation rate is not going back to 2%," the billionaire investor said Thursday. A recent flare-up in gas prices has fueled fears the Fed will have to hike interest rates yet again. "The long-term inflation rate is not going back to 2% no matter how many times [Fed chair Jerome] Powell reiterates it as his target," Ackman posted on X. Economists worry that the United Auto Workers' union strike and a recent steady rise in gas prices could push inflation even higher. "And higher gas prices will raise inflationary expectations.

Persons: Bill Ackman, there's, Jerome, Powell, Ackman Organizations: Reserve, Service, Pershing, Capital Management, Consumer, United Auto Workers ', Workers, Strategic Petroleum Reserve Locations: Wall, Silicon, China

Search resuls for: "Pershing Square Capital Management"

25 mentions found