New York-born billionaire Leon Cooperman, of the Omega Advisors organization, sounded off on the economic outlook on FOX Business' 'Claman Countdown.'
Omega Advisors billionaire CEO and chairman Leon Cooperman warned Wednesday that while the U.S. economy is "doing fine" at the moment, there is risk of a recession in 2024. Cooperman said a recession in 2024 would be due in-part to the effect inflated energy prices and quantitative tightening would have over that time.
Cooperman tried to illustrate the "ridiculous" rate of inflation with his personal recent experiences. He said he recently refused to purchase a $17 smoothie. Cooperman also expressed shock at having to spend $56 for a hat for his grandchild at Yankee Stadium, along with purchases of $13 pretzels. He said that when he was growing up in the Bronx, vendors would sell "two-for-a-nickel" pretzels. For more Culture, Media, Education, Opinion and channel coverage, visit foxnews.
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