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Bill Ackman: The Federal Reserve May Abandon the 2% Inflation Target
Hedge fund Pershing Square Capital Management CEO Bill Ackman stated that the Federal Reserve might abandon its 2% inflation target. He expects the Fed to set the inflation target in the 2.5%-3% range and pointed out that many strong drivers will propel the economy and the overall market, making it hard to envision an environment completely free of inflation pressures.