US EditionCitadel's Ken Griffin Says Iran War Threatens Global Recession
Griffin said a 6-to-12-month shutdown could send the world economy into recession and push a major shift to alternative energy.
- On Tuesday, Citadel CEO Ken Griffin warned that a prolonged closure of the Strait of Hormuz would trigger a global recession, stating "there's no way to avoid that" if the shutdown persists for six to 12 months.
- Tensions in the Middle East caused the ongoing closure of this critical energy chokepoint, following U.S. military strikes against Iran six weeks ago that disrupted the region's stability.
- Global economies remain vulnerable as oil prices hover around $100 a barrel, though Griffin noted at the Semafor World Economy Forum that the U.S. is somewhat insulated by domestic energy production capabilities.
- White House spokeswoman Olivia Wales claimed the administration has "met or exceeded all of our objectives," asserting the President is rightfully securing the Strait to end "Iranian extortion" of the world.
- Central banks face difficult decisions regarding interest rates as inflation spikes, while Griffin expressed confidence in Kevin Warsh, Trump's nominee for Federal Reserve chair, to act independently during this crisis.
11 Articles
11 Articles
Hedge fund billionaire says 'no way' to avoid Trump's recession
President Donald Trump is doing a “very poor job” of handling the Iran war he started, one of the world’s most influential hedge fund managers claimed in a Tuesday interview — and it will quite likely cause a global recession.Trump is not going to be able to reopen the Strait of Hormuz without a drastic escalation, multinational hedge fund Citadel LLC CEO Kenneth C. Griffin told Semafor in a Tuesday interview. “Let’s assume it’s shut down for th…
Investors were caught 'flat-footed' by the 'grit' of the Iranian people, Citadel's Ken Griffin says
Ken Griffin runs a $69 billion hedge fund and a leading marketmaker.Kayla Bartkowski/Getty ImagesKen Griffin said Iran's "grit and perseverance" caught the investing community "flat-footed."The founder of Citadel and Citadel Securities spoke at Semafor's World Economic Forum on Tuesday.The billionaire expects a recession if the Strait of Hormuz is closed for the foreseeable future.As Ken Griffin said, hedge funds are paid to deal with market vol…
Billionaire Ken Griffin Warns of Potential Global Recession
Ken Griffin, CEO of Citadel, cautions that if the Strait of Hormuz remains closed due to Middle East conflict, it could lead to a global recession. He highlights the importance of unimpeded energy flow for the world economy while speaking at the Semafor World Economy Forum.
Un magnat american avertizează că recesiunea globală este „inevitabilă” dacă Strâmtoarea Ormuz rămâne închisă
Magnatul Ken Griffin, fondatorul și directorul general al Citadel, cel mai de succes fond de investiții speculative din lume, a avertizat, marți, că economia globală nu va putea evita recesiunea dacă Strâmtoarea...
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