Billionaire hedge fund manager Bill Ackman publicly criticized Commerce Secretary Howard Lutnick for his ties to Wall Street, accusing him of profiting from economic chaos stemming from recent market downturns. Following significant declines in stock indices, Ackman called on Trump to impose a 90-day pause in tariffs to stabilize trade negotiations. He pointed out Lutnick's conflict of interest due to his firm's heavy investment in long bonds, which gain value during market crashes. Ackman positioned himself as a proponent of the American economy in contrast to Lutnick’s financial interests, amidst rising recession fears indicated by Moody's Chief Economist.
I just figured out why @howardlutnick is indifferent to the stock market and the economy crashing. He and Cantor are long bonds. He profits when our economy implodes.
It's a bad idea to pick a Secretary of Commerce whose firm is levered long fixed income. It's an irreconcilable conflict of interest.
I am long America and he is short. I am aligned with our country and our economy and he is short.
Moody's Chief Economist Mark Zandi has now placed the odds of a U.S. recession at 45%, warning there does not appear to be a way to avoid it.
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