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Icahn says economy is collapsing due to inflation and poor corporate guidance

prominent investor Carl Icahn I believe the US economy is in trouble because of poor corporate management and stubbornly high inflation.

“The system is collapsing and the economy is absolutely in big trouble today,” Icahn told CNBC.closing bell“Tuesday. One of the worst countries in the world when it comes to corporate governance.”

Icahn has long been an activist investor and corporate predator, profiting from forcing corporate policy changes. He attributes his success to his ability to take advantage of questionable governance at the corporate level.

“Leadership is worse than mediocre. That’s why we’re successful. I mean, it’s not because we’re geniuses, it’s because you walked into the company today… What you’ve found is truly terrifying.” Icahn said.

Meanwhile, Icahn said another major problem in the current economy is rapid inflation, and the Fed has no choice but to keep raising interest rates to keep it in check.

Watch CNBC's full interview with billionaire investor Carl Icahn.

Icahn said, “I think Chairman Powell will have to raise rates sooner or later. Inflation is the worst thing that can happen to the economy…. I don’t think we have a choice. I really believe that it can be very difficult to

Inflation rose again in February The consumer price index is up 0.4%. With annual inflation currently at 6%, the Fed will likely be on track for another rate hike next week, despite the recent turmoil in the banking industry.

Summarize this content to 100 words prominent investor Carl Icahn I believe the US economy is in trouble because of poor corporate management and stubbornly high inflation.”The system is collapsing and the economy is absolutely in big trouble today,” Icahn told CNBC.closing bell”Tuesday. One of the worst countries in the world when it comes to corporate governance.”Icahn has long been an activist investor and corporate predator, profiting from forcing corporate policy changes. He attributes his success to his ability to take advantage of questionable governance at the corporate level.”Leadership is worse than mediocre. That’s why we’re successful. I mean, it’s not because we’re geniuses, it’s because you walked into the company today… What you’ve found is truly terrifying.” Icahn said.Meanwhile, Icahn said another major problem in the current economy is rapid inflation, and the Fed has no choice but to keep raising interest rates to keep it in check.Icahn said, “I think Chairman Powell will have to raise rates sooner or later. Inflation is the worst thing that can happen to the economy…. I don’t think we have a choice. I really believe that it can be very difficult toInflation rose again in February The consumer price index is up 0.4%. With annual inflation currently at 6%, the Fed will likely be on track for another rate hike next week, despite the recent turmoil in the banking industry.
https://www.cnbc.com/2023/03/14/icahn-says-economy-breaking-due-to-inflation-poor-corporate-guidance.html Icahn says economy is collapsing due to inflation and poor corporate guidance

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