The hedge fund manager discussed his outlook for inflation and the stock market on CNBC's 'Squawk Box.'
Hedge fund billionaire Bill Ackman said Tuesday that investors will closely watch the Federal Reserve to decide when it is time to buy stocks again. The Pershing Square founder told CNBC's " Squawk Box " that equities can rebound once the central bank stops its rate hikes and the market becomes confident that inflation is trending in the right direction.
They're not going to make that mistake," he added. Stocks have struggled this year as inflation spiked to four-decade highs and the central bank has aggressively hiked rates. The market had a mid-summer rally as some investors began to price in a potential policy pivot, but stocks have since fallen for three straight weeks due in part to a blunt promise to fight inflation from Fed Chair Jerome Powell in a speech at Jackson Hole, Wyoming.
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