Paul Tudor Jones speaking at the World Economic Forum in Davos, Switzerland, January 21, 2020.
Adam Galica | CNBC
Billionaire hedge fund manager Paul Tudor Jones believes the Federal Reserve has finished raising interest rates in its fight against inflation.
“I definitely think they are done,” Jones said on CNBC’s “Squawk Box” of the Fed’s rate-hiking campaign. “They could probably declare victory now because if you look at CPI, it’s been declining 12 straight months… That’s never happened before in history.”
The central bank has hiked interest rates 10 times since over a year ago, taking the fed funds rate to a target range of 5%-5.25%, the highest since August 2007.
Jones shot to fame after he predicted and profited from the 1987 stock market crash. He is also the chairman of nonprofit Just Capital, which ranks public U.S. companies based on social and environmental metrics.
This is breaking news. Please check back for updates.
Source: https://www.cnbc.com/2023/05/15/paul-tudor-jones-says-the-fed-is-done-raising-rates-stocks-to-finish-the-year-higher-from-here.html