Bill Ackman Says Aggressive Fed Action Would Help Restore Confidence

Pershing Square founder Bill Ackman said Tuesday that the US Federal Reserve would be better off by raising rates 100 basis points “tomorrow, in July and thereafter” instead of the 75-basis-point hike that some economists are expecting.

He said the central bank had allowed inflation “to get out of control” and called for “aggressive action” that would help restore market confidence.