Billionaire's Prediction: The Market Is Wrong, Fed Will Conduct 'Substantially More' Than 2 Rate Cuts

Even after recent economic data from January on consumer prices and the labor market, investors still largely expect the Federal Reserve to lower interest rates two more times this year, bringing the federal funds rate into a range of 3% to 3.25% (as of Feb. 13). The cuts are expected in June and September. Naturally, there is a good amount of dispute regarding this outlook, in both directions. In fact, one prominent billionaire investor publicly said he thinks the market is wrong and that the Fed will c ...