Ackman expects first cut in 1Q


Ackman says Fed rate cuts could happen as soon as the first quarter — Bloomberg

NEW YORK: Billionaire investor Bill Ackman is betting the Federal Reserve (Fed) will begin cutting interest rates sooner than markets are predicting.The Pershing Square Capital Management founder said such a move could happen as soon as the first quarter.

Traders are fully pricing in a rate cut in June, with the chance of a cut happening in May priced at about 80%, according to swaps market data.

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