Bill Ackman Sees Potential First-Quarter Rate Cut -Bloomberg

THE FED - Billionaire Bill Ackman expects the U.S. Federal Reserve could start cutting interest rates in the first quarter, sooner than most investors expect, Bloomberg reported on Tuesday.

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Bloomberg cited comments from the founder of hedge fund Pershing Square Capital Management on an upcoming episode of The David Rubenstein Show: Peer-to-Peer Conversations.

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Interest rate futures suggest many traders expect the Fed to start cutting rates in the second quarter of 2024, according to the CME Fedwatch Tool.