Billionaire Paul Singer’s Elliott Management says we might be in for a recession if the Trump administration doesn’t pass reforms in taxes, regulation and health care.
Trump took office with a plan to cut taxes, cut back on regulations and boost infrastructure spending — all in a bid to raise economic growth. The plans have mostly been stymied by political disagreements over healthcare reform and a probe into Russia’s potential interference in the election.
A hedge fund led by an investing legend expects “all hell to break loose.”
Billionaire Paul Singer’s Elliot Management, which raised $US5 billion in less than 24 hours earlier this month, said it’s building up its cash reserve to deploy during upcoming market turmoil.
The hedge fund has been sounding the alarm for some time. However, the most recent letter set out why the fund had decided to raise additional funds.
