Citadel CEO Ken Griffin says inflation may have peaked, warns of recession coming

Citadel CEO Ken Griffin says inflation may have peaked, but a recession is yet to come. “We are in a very uncertain time for investors,” an executive warned, adding that the Fed is “tackling levels of inflation that we haven’t seen in a long time.” .

Citadel’s Ken Griffin Talks US Economy, Inflation, Recession and Cryptocurrencies

Kenneth Griffin, founder and CEO of global investment firm Citadel, shared his views on a variety of topics including the US economy and cryptocurrencies at the CNBC Delivering Alpha conference on Wednesday.

“It’s a very uncertain time right now,” he began. “We are grappling with the threat of nuclear war in Ukraine. We are grappling with unprecedented central bank intervention. We are grappling with record high inflation in the United States in a lifetime. It’s a very uncertain time for investors,” Griffin stressed.

The U.S. stock market has shown “some resilience” and the U.S. economy “remains strong,” he said.

Perhaps we are seeing a peak in inflation that has just occurred or is about to occur. So the trajectory of progress on many key fronts looks somewhat better at home, assuming nothing abroad is completely off track.

On whether the U.S. economy will go into recession, he said:

The Citadel boss continues: absolutely. He further shared that as part of managing risk, his investment firm is “very focused on the likelihood of a recession.”

“The Fed is grappling with levels of inflation we haven’t seen in a long time. But the executive warned that “there are very bad consequences” for home builders, automakers and others. is good.”

The Citadel founder started talking about Europe. “There is a war going on in Europe, there is record inflation,” he said, adding:

Europe is probably already in recession due to high costs and energy shortages.

Nonetheless, he noted that while the market was down, “it’s not as down as you probably thought if you saw the news headlines.”

Griffin was also asked about cryptocurrencies. “There’s a bit of a generational conflict here,” he began. “Younger colleagues are more crypto-centric than their older peers, and for good reason, including, ironically, a sort of libertarian worldview,” explains the Citadel CEO.

As our government gets bigger and bigger, a certain number of people want privacy… away from the government.

“What is interesting is that when people turn to assets like cryptocurrencies, they are moving away from big government. And it’s really ironic,” he concludes.

What do you think of Citadel CEO Ken Griffin’s comments? Let us know in the comments section below.

Kevin Helms

An Austrian economics student, Kevin has been an evangelist since he discovered Bitcoin in 2011. His interests lie in Bitcoin security, open source systems, network effects, and the intersection of economics and cryptography.