US economy doesn't need any rate cuts, says billionaire investor Howard Marks [CNBC]
OAKTREE CAPITAL GROUP (OAK)
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Source: CNBC
US economy doesn't need any rate cuts, says billionaire investor Howard Marks The U.S. economy doesn't need any rate cuts, billionaire investor and Oaktree Capital's co-chairman Howard Marks told CNBC, predicting there won't be a recession for another two years. "If your goal is to make sure we don't have a recession this year, next year ... (then) maybe you want to cut rates," Marks told CNBC's Tanvir Gill at the Singapore Summit But the U.S. economy is doing "pretty well," Marks said, with sources of strength which could be mostly attributed to the American consumer. When asked if a recession was about to his the U.S., he replied: "It doesn't feel to me like a recession is imminent. I don't think we're going to go 5 years without it, so some time two years from now — something like that." Central banks usually cut rates to get the economy going, he said, citing that the Fed's rate cuts 10 years ago helped stall global financial crisis. "Ten years later, do you want to cut rates to e
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