Billionaire investor Bill Ackman says the AI race may have broken the Fed’s inflation playbook

Billionaire investor Bill Ackman said the Federal Reserve's decision to raise interest rates last week was a mistake. He argued that artificial intelligence may be rewriting the rules that guide the central bank's response to inflation. Ackman, founder of Pershing Square, suggested that the principle that rate hikes reduce inflation by pushing down demand may no longer apply in the AI era. He questioned whether old economic models still apply to the current paradigm.

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