Legendary investor Carl Icahn warns of more SVB-style fiascos, sounds the inflation alarm, and predicts stocks will tumble
Carl Icahn has called on the Federal Reserve to keep hiking interest rates until it crushes inflation, and framed Silicon Valley Bank's failure as part of a wider problem of reckless spending and mediocre management.
Historic amounts of fiscal and monetary stimulus helped drive inflation to a 40-year high of 9.1% last June. The pace of price increases was 6% in February — still well above the Federal Reserve's 2% target. Along with inflation, Icahn bemoaned the number of bad bosses in the US, and suggested the SVB fiasco was a product of that problem.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SVB's collapse shows the Fed broke something: Liz Ann SondersSVB's downfall shows the Fed broke something in the economy, and other things could break with more rate hikes, Charles Schwab's chief investment strategist says
Read more »
Lawmakers grilled Fed chair about plan to raise bank capital rules just before SVB collapseDays before the collapse of Silicon Valley Bank, Federal Reserve Chairman Jerome H. Powell took heat from lawmakers in both parties worried about the central bank’s possible plan to raise capital requirements for banks.
Read more »
SVB collapse: Markets see potential pause in Fed rate hikesMarkets think the odds that the Fed pauses rate hikes at its upcoming meeting have shot up after Silicon Valley Bank's failure
Read more »
S&P 500 Futures, Treasury bond yields pause SVB-induced moves on Fed concerns, US inflation eyedS&P 500 Futures, Treasury bond yields pause SVB-induced moves on Fed concerns, US inflation eyed – by anilpanchal7 SP500 Futures YieldCurve Inflation Fed
Read more »
EUR/USD seeks cushion around 1.0700 as Fed to avoid bigger rate hikes amid SVB collapseThe EUR/USD pair is gauging a cushion near the round-level support of 1.0700 in the Asian session. The major currency pair has corrected from 1.0740 a
Read more »
SVB collapse: Markets start pricing in Fed rate cuts of 75 basis pointsMarkets have started pricing in Fed rate cuts of 75 basis points by the year's end as SVB's collapse creates panic about other banks
Read more »