Steve Cohen Says Probability of US Recession Now Stands at 45%

Billionaire Steve Cohen said the chance of a recession in the US now stands at about 45%.

“We aren’t in a recession yet, but we have significant slowing growth,” said the founder of hedge fund Point72 Asset Management, speaking Wednesday at the Sohn Investment Conference in New York.

Cohen, 68, said he doesn’t expect the Federal Reserve to cut rates right away, because “they are going to be worried about inflation from tariffs.” He said he expects US economic growth next year to slow to 1.5% or less, “which is OK but not phenomenal.”

Steve Cohen

Photographer: Zak Bennett/Bloomberg

The stock market’s April ...