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Druckenmiller Says He’ll Be ‘Stunned’ If There’s No Recession Next Year

Economy Sep 28, 2022 11:00AM ET
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(Bloomberg) -- Stan Druckenmiller expects a recession in 2023, followed by markets that may stagnate for the following decade.  

“I would be stunned if we didn’t have a recession in ‘23,” Druckenmiller, who runs Duquesne Family Office, said Wednesday at CNBC’s Delivering Alpha conference in New York. “I don’t rule out something really bad.”  

He pointed to massive global quantitative easing that reached $30 trillion as what’s driving the looming recession.

“Our central case is a hard landing” by the end of next year, he said.

The S&P 500 has dropped more than 20% this year, as have many indexes in Europe and Asia. The dollar has strengthened against most major currencies, with the British pound at record lows against the US currency.  

He predicted that the stock market would be at a relatively similar level in a decade to what it is now. Even so, money can be made in this sort of environment, adding that cryptocurrencies could benefit if distrust in central banks swells.

As of now, he expressed support in the Fed’s recent tightening. “I like everything I’m hearing out of the Fed and I hope they finish the job,” he said. Now, the tightening has to go all the way. “You have to slay the dragon.”

 

©2022 Bloomberg L.P.

Druckenmiller Says He’ll Be ‘Stunned’ If There’s No Recession Next Year
 

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Comments (2)
paulo Nunes
paulo Nunes Sep 28, 2022 1:49PM ET
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who ??
Mike Sim
Mike Sim Sep 28, 2022 11:41AM ET
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LOL WE ALREADY IN ONE! LIARS!!!!
 
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