Billionaire investor Steve Cohen doubles negative views on the US economy as he faces punitive tariffs, immigration crackdowns and so-called sector-led federal spending cuts in government efficiency I’ve done it.
The chairman and CEO of hedge fund Point72 said that it only took a while to be bearish after President Donald Trump’s aggressive trade policy worried about inflationary pressures and declining consumer spending. Meanwhile, his strict attitude towards immigration could mean a restricted supply of labor, he said.
“The tariffs aren’t positive, okay?” Cohen said Friday at the FII Priority Summit in Miami Beach, Florida. “Additionally, we’re slowing down immigration. That is, The workforce has not grown as rapidly as the last five years.”
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“When that money has been running through the economy for many years, and now, potentially it will drop or stop in many ways, it must be negative for the economy,” Cohen said. .
Cohen thinks this is probably possible given the uncertain macroeconomic environment in which pullbacks in the stock market are uncertain. He believes that the growth of the US economy is slowing from 2.5% in the second half of the year to 1.5%.
“I think we’re seeing the administration change a little. It may last for about a year, but it’s definitely a time when you think you’ve made the best profits and it’s a surprise to see the important revisions It won’t be,” Cohen said. “I don’t think it’s going to be a disaster.”