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Here Is Bill Ackman's Presentation To The NY Fed Urging It To "Begin Hiking Rates ASAP

• https://www.zerohedge.com by Tyler Durden

One week after legendary trader Paul Tudor Jones excoriated the Fed, saying in an interview with CNBC that the Fed was employing what may be the most inappropriate monetary policy of his lifetime, and that high inflation is likely to remain stubborn and potentially "much worse than what we fear", moments ago Pershing Square's billionaire boss, Bill Ackman, revealed on twitter that he "gave a presentation to the Federal Reserve Bank of New York last week to share our views on inflation and Fed policy. The bottom line: we think the Fed should taper immediately and begin raising rates as soon as possible."

Ackman was not shy in revealing that he was obviously talking his book, stating that "we have put our money where our mouth is in hedging our exposure to an upward move in rates, as we believe that a rise in rates could negatively impact our long-only equity portfolio."

In other words, Ackman is short rates, although it is unclear for now how large his exposure is.

His poetic conclusion: "We are continuing to dance while the music is playing, and it is time to turn down the music and settle down."


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