The S&P 500 stock index is up 16.8% this year, in a rally mainly driven by optimism around artificial intelligence.Still, he said it is unclear when Fed chair Jerome Powell will be able to cut rates because of some ongoing stimulus measures.
“He’s showing up in a fight with both of his hands tied behind his back because DC is just on a different agenda than he is,” Citadel’s founder said. “He’s trying to prudently slow the economy, bring inflation back down and really engineer the whole soft landing.”Griffin said there’s a small chance the Federal Reserve, chaired by Jerome Powell, will hike rates later this year.Griffin considered it is unlikely that inflation will come down to the Fed’s 2% target.
Citadel, which invests $61 billion for clients, became the most successful hedge fund of all time last year when it earned $16 billion.