Galaxy Digital CEO Mike Novogratz has warned of a credit crunch in the U.S. and globally. Emphasizing that “we are heading into a recession,” he expects the Federal Reserve to cut interest rates “sooner than we think.”
Novogratz on Global Credit Crunch and Recession
Galaxy Digital CEO Mike Novogratz shared his outlook for the U.S. economy in an interview with CNBC Wednesday. Comparing the current market condition to one in December 2018, he said: “This reminds me a lot of 2018, December, when the Fed had this idea of one last [interest rate] hike and, of course, it sent the market into a tailspin, and they had to reverse it soon after.”
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Noting that “information has changed dramatically” in a short period of time, he
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