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According to Carl Icahn, “there could very well be a recession or even worse.” Speaking to CNBC, the famous investor said that there could be an economic downturn on the horizon, stressing that in the short term he is not even making any predictions.
The founder and president of Icahn Enterprises said rising inflation is a major threat to the economy, while the Russia-Ukraine war has only added more uncertainty to its prospects. The Federal Reserve raised interest rates for the first time in more than three years in an effort to fight inflation which is running at its highest level in 40 years.