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Stanley Druckenmiller sees high chance of recession in 2023: 'We are in deep trouble'
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Legendary investor Stanley Druckenmiller sees the Federal Reserve triggering a recession with its inflation fighting policy and warns that financial markets could stagnate for a decade as a result.
"I will be stunned if we don’t have recession in ’23," Druckenmiller said Wednesday at CNBC’s Delivering Alpha Investor Summit in New York. "I don’t know the timing but certainly by the end of ’23. I don’t rule out something really bad."
Druckenmiller, who runs Duquense Family Office, a wealth manager with more than $1.3 billion of assets under management, pointed to the extraordinary quantitative easing and zero interest rates over the past decade as the driving forces behind the looming recession.
"All those factors that cause a bull market, they’re not only stopping, they’re reversing every one of them," he said. "We are in deep trouble."