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Billionaire Chamath Palihapitiya Says Fed Under Pressure To Aggressively Cut Interest Rates – Here’s Why
Billionaire venture capitalist Chamath Palihapitiya says economic conditions will force Fed Chair Jerome Powell to cut rates more than once.According to the Social Capital CEO, people relying on their savings are now driven to find jobs, but most will struggle to land one as companies steer clear from expansion due to the Fed’s higher-for-longer policy.
Palihapitiya goes on to explain that an uptick in unemployment will lead to an economic slowdown and force the hand of Powell to cut rates multiple times.
