US Could Avoid Recession By Boosting Immigration, Says Bill Ackman


In his thread, Ackman said that policymakers usually try to curb inflation by reducing demand or increasing supply in the system. But, he said wage inflation wouldn’t slow down until interest rates hit high levels that cause damage to financial markets and the broader economy.

The hedge fund manager said the US should invite more Russians and other foreign nationals into the country, which would bolster the domestic labor supply and ease the upward pressure on wages.

Ackman has been largely supportive of Fed rate hikes this year. Earlier in September, he predicted the central bank’s efforts would halt inflation to around 4% over the next year.