Billionaire investor Ken Griffin, the founder of Citadel and Citadel Securities, said on Tuesday the Federal Reserve needs more consistency of communication in order to tame inflation and that the setup for a recession is unfolding.
"If I could tell one thing to the chairman, I would tell him to say less. I would just write a message: we're going to put the inflation genie back in the bottle," Griffin said in a televised interview with Bloomberg.raise interest rates more
than expected to control inflation. Previously, some market participants have at some points read Fed official's speeches as less hawkish. "I really believe consistency of messaging is so important because part of how the Fed gets the job done is the perception of the American public that they can get the job done," Griffin said. He believes the Fed will increase interest rates to around 5.5% to tame inflation.
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