Hedge fund mogul Steve Cohen: The U.S. economic growth has significantly slowed down, with a recession probability of about 45%.

BlockBeats news, on May 15, billionaire investor and founder of hedge fund Point72 Asset Management (known as “the craziest money-making machine on Wall Street”) Steve Cohen stated at the Sohn Investment Conference in New York on Wednesday: “We are not in a recession yet, but economic growth has significantly slowed down.” The 68-year-old Cohen does not believe the Federal Reserve will cut interest rates immediately because “they will be concerned about inflation brought on by tariffs.” He predicts that U.S. economic growth will slow to 1.5% or lower next year, saying, “This level is acceptable, but not impressive.” He mentioned that the big dump and rebound in the stock market in April appeared unusual in terms of the speed of reversal and emphasized that he is closely watching the market reaction after the next round of U.S. economic data is released. Even if the market does fall, he expects the decline will be between 10% and 15%, saying, “This is not catastrophic.” He also added that the U.S. stock market may remain in a sideways oscillation for some time. (Jin10)