Bill Ackman doubts the Fed can tame inflation, says higher prices ahead

Billionaire hedge fund manager Bill Ackman is skeptical of the Federal Reserve’s ability to bring down inflation, seeing structurally higher prices lingering. “Long-term interest rates are meaningfully below where they’re going to go and we think that is, of course, a risk for equities,” Ackman said on a quarterly investor call for Pershing Square Holdings Thursday. “A part of our thesis here is that … Read more

Why Marriott, Hilton and Hyatt say hotel prices are only going up

Despite high inflation, a softening economy, and fears of a recession, the hotel industry is not seeing any slowdown. It’s the exact opposite, with Hilton CEO Chris Nassetta predicting that the hotel chain will “have the biggest summer we’ve ever seen in our 103-year history this summer.” Few industries were hit as hard as travel … Read more