US in recession ‘by any definition’: Michael Burry
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
SCION Asset Management founder Michael Burry said while inflation has peaked, it is likely to pick up again in response to government stimulus.
“The US in recession by any definition,” Burry, the investor made famous by Christian Bale in the 2015 movie The Big Short, tweeted late on Sunday (Dec 1). “Fed will cut and government will stimulate. And we will have another inflation spike.”
Last September, Burry had warned of more pain for the stock market, saying: “We have not hit bottom yet.” In the second quarter last year, his firm dumped all of its equity exposure besides one company.
Federal Reserve chair Jerome Powell last month had said the central bank is not close to ending its anti-inflation campaign after raising its benchmark rate 50 basis points. BLOOMBERG
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
‘Boring’ is the new black: The stars are aligning for a Singapore stock market revival
Near sell-out launches in March boost developer sales to 1,300 units after four slow months
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Genting Singapore’s Lim Kok Thay receives S$7.5 million pay package for FY2025
