TechFlow, May 15 — According to Jinshi Data, billionaire investor Steve Cohen, founder of hedge fund Point72 Asset Management (known as "Wall Street's craziest money-making machine"), said at the Sohn Investment Conference in New York on Wednesday: "We are not yet in a recession, but economic growth has clearly slowed."
The 68-year-old Cohen said he does not expect the Federal Reserve to cut interest rates immediately, as "they will be concerned about inflation driven by tariffs." He forecasts U.S. economic growth will slow to 1.5% or lower next year, "which is acceptable, but not impressive."
He noted that April's sharp stock market decline and rebound were unusually fast in their reversal, and emphasized he is closely watching market reactions following the release of upcoming U.S. economic data. Even if the market does fall, he expects the drop to be between 10% and 15%, "which is not catastrophic." He also added that U.S. equities could remain range-bound for a period of time.
