Citadel boss Ken Griffin warns a recession is looming - as household savings dwindle and surging interest rates bite
Higher rates can relieve upward pressure on prices by encouraging saving over spending and increasing borrowing costs. However, they can also drag down the prices of stocks, houses, and other assets, as well as sap demand, boosting the odds of a recession.
"That'll give the Fed a bit of comfort that they're getting the job done, cooling the economy, bringing down inflation and putting that pretty evil inflation genie back in the bottle," he said.underlined the difficulty of the Fed's challenge, as it navigates"uncharted territory" wielding a blunt instrument in the form of interest rates.
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