Carl Icahn warns inflation isn't over - and reveals he was building an activist stake in Twitter before Elon Musk's takeover
on Thursday, warning inflation remains one of many threats facing the US economy. He also teased a past bet against cryptocurrencies, and revealed he was planning to launch an activist campaign against Twitter before Elon Musk stepped into the picture.after inflation data came in below forecasts, raising investors' hopes that the Federal Reserve will pivot from raising interest rates to cutting them, and the US economy will avoid a recession.that he doesn't expect prices, which rose 7.
"The Fed has to keep raising and if it doesn't, then it's going to be worse in the future," the Icahn Enterprises chief said about inflation."It's not something where you just take a magic pill and get rid of it." Icahn listed higher rates, lackluster earnings, ballooning corporate debt, pressure on household wealth, a likely recession, and the Russia-Ukraine war as just some of the reasons he's pessimistic about the future.
Icahn revealed he was building a Twitter stake, and preparing to push for changes at the social-media company, before Musk offered to buy it in April.
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