Billionaire investor Ken Griffin says the US is still headed for a recession - but he's bullish on China despite a disappointing rebound
Citadel founder Ken Griffin is still anticipating a US recession but holds a more bullish view on China,In an interview in Hong Kong, the billionaire — whose flagship hedge fund has returned 6.1% through May this year — said he's pointing his attention toward high-yield credit markets during a potential downturn.
He added that he expects the Federal Reserve to raise interest rates one more time in 2023 then stop. Meanwhile, Griffin holds a bullish outlook on China, although the world's second largest economy has fallen short expectations for a bigger post-COVID rebound. "There's a general level of uncertainty as to the level of growth in China today," Griffin said, noting that his firm anticipates an expansion of more than 5%."We're actually more constructive on growth."
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