PSTH - Pershing's Ackman says U.S. facing `classic bubble' spurred by Fed

Hedge fund billionaire Bill Ackman said the Fed's monetary policy created a "classic bubble" and he expects the Fed will need to tighten rates faster to curtail inflation. "We are in a classic bubble which has been driven by the Fed," Pershing Square's (NYSE:PSTH) Ackman said at a S&P Global Ratings conference, according to a Reuters report. "Every indicator is flashing red," Ackman said. Ackman made similar remarks late last month, urging the Fed to taper immediately and raise rates ASAP. "We are continuing to dance while the music is playing, and it is time to turn down the music and settle down," Ackman said in a tweet at the time.

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Pershing's Ackman says U.S. facing `classic bubble' spurred by Fed