Ken Griffin , founder and CEO of Citadel, said Thursday he's uncertain that the stock-market rally can keep chugging along as the economy starts to feel the pain from rate hikes. "I'm a bit anxious that this rally can continue," Griffin said on CNBC's " Squawk on the Street. " "Obviously one of the big drivers of the rally has been ... just the frenzy over generative AI, which has powered many Big Tech stocks...
The central bank has taken the fed funds rate to the highest since 2007. "We've seen an increase in real rates and nominal rates, and yet the stock market's been resilient," Griffin said. "So that's a really interesting year to see the resiliency of our stock market against this backdrop that would usually be very challenging for equities.