Steve Cohen says that rates, Doge cuts are negative for the economy

The billionaire investor Steve Cohen doubled his negative vision of the United States economy due to a context of punitive rates, repression of immigration and federal expenses cuts headed by the so -called government efficiency department.

The president and CEO of Hedge Fund Point72 said he became bassist for the first time in a time after President Donald Trump’s aggressive commercial policy made him worry about inflationary pressures and the lowest consumer expense. Meanwhile, its hard position on immigration could mean a limited supply of labor, he said.

“Tariffs can’t be positive, right? “In addition to that, we have a slowdown immigration, which means that the workforce will not grow as fast as … the last five years and so.”

The outstanding coverage fund investor assumed Doge cost reduction movements led by Elon Musk, saying that they could only harm the economy more. Musk has said that his goal is Reduce federal expenditure by $ 2 billion.

“When that money has been studying through the economy for many years, and now, potentially, it will be reduced or will stop in many ways, it has to be negative for the economy,” Cohen said.

Cohen believes that a setback in the stock market could probably have the uncertain macroeconomic environment. He sees that the growth of the United States economy slows down to 1.5% from 2.5% in the second half of the year.

“I think we are seeing the change of regime a bit. It may only last a year or so, but it is definitely a period in which I think they have had the best profits and I would not be surprised to see a significant correction.” Cohen said. “I don’t think it’s a disaster.”