Bill Ackman still sees a massive economic boom despite the delta variant, says rates to rebound


Yun Li, CNBC

Jul 19 2021


Billionaire investor Bill Ackman said Monday that the spread of the delta variant doesn’t pose a significant threat to the economic reopening, and he sees interest rates rising on the back of the big comeback.


“I hope what it does is that it motivates anyone who doesn’t get the vaccine to get the vaccine. I don’t think it’s going to change behavior to a great extent,” Ackman said in a interview on CNBC’s “Squawk Box.” “You are going to see a massive, my view, economic boom. ... We are going to have an extremely strong economy coming in the fall.”


The delta variant is causing flare-ups across unvaccinated pockets of the country and leading to an increase in hospitalizations as cases climb. Ackman, the founder and CEO of Pershing Square Capital Management, said the variant is less deadly than other strains, and the U.S. could achieve herd immunity faster as more people recover from the infections.


The hedge fund manager believes bond yields will trend much higher in the second half of 2021 as the economy continues to recover from the pandemic-induced recession.


“I think rates are going up. Short rates I think are going to go up a lot faster than people think,” Ackman said...


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