(Bloomberg) — Bill Ackman thinks that the Federal Reserve’s 2% inflation target is “no longer credible” after Fed Chair Jerome Powell reiterated that rate hikes will continue until inflation reaches 2%. The Pershing Square Capital Management founder added that a targeted inflation of around 3% would be a better strategy for long term growth.
(Bloomberg) — Bill Ackman thinks that the Federal Reserve’s 2% inflation target is “no longer credible” after Fed Chair Jerome Powell reiterated that rate hikes will continue until inflation reaches 2%. The Pershing Square Capital Management founder added that a targeted inflation of around 3% would be a better strategy for long term growth.
“Businesses need price stability, but can thrive in a world with 3% stable inflation,” he wrote in a thread on Twitter.
More stories like this are available on bloomberg.com
©2022 Bloomberg L.P.
