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Bill Ackman Says Aggressive Fed Action Would Help Restore Confidence

·1 min read

(Bloomberg) -- Pershing Square founder Bill Ackman said Tuesday that the US Federal Reserve would be better off by raising rates 100 basis points “tomorrow, in July and thereafter” instead of the 75-basis-point hike that some economists are expecting.

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He said the central bank had allowed inflation “to get out of control” and called for “aggressive action” that would help restore market confidence.

“The sooner the @federalreserve can get to a terminal FF rate and thereafter can begin to ease, the sooner the markets can recover,” Ackman wrote on Twitter.

Read More: Bill Ackman Doubles Down on Call for Aggressive Fed Rate Hikes

(Updates with additional Ackman tweet in lead)

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