Druckenmiller Says US on Brink of a Recession, Sees Hard Landing
- Billionaire cites regional bank turmoil among his risk factors
- He still predicts ‘unbelievable opportunities’ in coming years
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Stan Druckenmiller said he thinks the US economy is teetering on the edge of a recession and predicts a “hard landing.”
The downturn will occur at some point during the current quarter — even earlier than he previously expected, the billionaire founder of Duquesne Family Office said Tuesday during the 2023 Sohn Investment Conference. Druckenmiller, 69, said a variety of factors including a decline in retail sales and the upheaval gripping the nation’s regional banks prompted him to accelerate his forecast for a recession.