Billionaire hedge fund manager Stanley Druckenmiller has a dire prediction for the U.S. economy: a recession is looming, and it’s likely set to hit this June. Druckenmiller’s forecast comes as American consumer spending remains low, and is largely driven by credit card usage. Druckenmiller, a seasoned investment mogul, warns that it would be foolish to ignore the possibility of a “really, really bad” scenario unfolding.
Druckenmiller Cites Drop in Consumer Spending and Banking Industry Turmoil as Recession Indicators
At the 2023 Sohn Investment Conference in San Francisco, Stanley Druckenmiller sounded the alarm on the U.S. economy. While others may be optimistic about a “soft landing,” the seasoned hedge fund manager is bracing for impact, predicting a “hard landing” instead.
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Author: Jamie Redman
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