The world faces an "economic nuclear winter" if President Trump doesn't immediately pause his sweeping reciprocal tariffs, hedge fund manager Bill Ackman said Sunday night. Why it matters: The billionaire Ackman, a staunch Trump supporter, put the market's fears about the fate of the global economy in the starkest terms possible. What they're saying: "The President has an opportunity on Monday to call a time out and have the time to execute on fixing an unfair tariff system. Alternatively, we are heading for a self-induced, economic nuclear winter, and we should start hunkering down," Ackman wrote in a lengthy post to X.
Related...
Larry Fink says most CEOs he talks to think U.S. is in a recession
www.bnnbloomberg.ca
... BlackRock Inc. Chief Executive Officer Larry Fink said most CEOs he talks to think the U.S. is in a recession, warning that stock markets could decline further as U.S. President Donald Trump's tariff policies destabilize the world economy.
"The economy is weakening as we speak," Fink, 72, said in an interview Monday at the Economic Club of New York, adding that he foresees more of an economic slowdown in the coming months.
Inflation is likely to be elevated, Fink said, casting doubt on the Federal Reserve cutting rates multiple times this year. As an example of worries spiking, Fink said he's already heard from airline executives about the decline in travel demand.
"Most CEOs I talk to would say we are probably in a recession right now," Fink said. ...
Drudge Retort Headlines
Trump Goes to Golf Event as Bodies of Soldiers Arrived Home (92 comments)
Trump Plans Military Parade on his Birthday (39 comments)
Federal Judge Reveals 'undisputed evidence' Trump is Sabotaging Blue States (38 comments)
Billboard: 'Tariffs Are a Tax' (36 comments)
Ron Vara Doesn't Exist (33 comments)
Texas Measles Outbreak Nears 500, Spreads to Day Cares (27 comments)
Fact Check: Trump's False Claims About Tariffs (24 comments)
Foreign Journalists at US-backed Media Fear Being Sent to Repressive Homelands After Trump's Cuts (20 comments)
Trump Asks Supreme Court to Block Return of Wrongly Deported Man (19 comments)
US Army Mulling 90,000 Troop Force Reduction (19 comments)