Billionaire Ken Griffin, founder and CEO of the Fort hedge capitaltreasury, stated running elegance American citizens will endure the brunt of President Donald Trump’s punitive price lists on U.S. buying and selling companions.
“Tariffs hit the pocketbook of hardworking Americans the hardest,” Griffin stated on CNBC’s “Closing Bell” Wednesday. “It’s like a sales tax for the American people. It’s going to hit those who are working the hardest to make ends meet. That’s my big issue with tariffs. It’s such a painfully regressive tax.”
Trump rolled out shockingly prime levies on imports terminating moment, triggering ultimate swings on Wall Boulevard. The president nearest went directly to announce a 90-day idleness on a lot of the rise, aside from for China, because the White Area wished to clash trade in with primary buying and selling companions. Trump has slapped price lists of 145% on imported Chinese language items this age, prompting China to impose retaliatory levies of 125%.
Griffin, whose hedge capitaltreasury controlled greater than $65 billion in the beginning of 2025, voted for Trump and was once a megadonor to Republican politicians. However he has additionally criticized Trump’s industry coverage, announcing it dangers spoiling the “brand” of the US and its govt bond marketplace.
“The reason the American voters elected President Trump was because of the failed economic policies of Joe Biden and the inflationary shock that reduced the real incomes of every American household,” Griffin stated. “The president really does have to focus on managing inflation, because I think it’s front and center, the primary score card that American voters are going to think about when it comes to this midterm election.”
The Wall Boulevard titan stated there’s a “modest” possibility of stagflation as upper price lists develop each inflationary pressures and decelerate the financial system. He stated the trajectory of the financial system in large part depends upon how Trump’s financial coverage develops.
As laid out via Treasury Secretary Scott Bessent, Trump’s economic program takes a three-pronged approach: industry, tax cuts and deregulation.
“The question is, will all three of those come together to give us the growth that we need in our economy?,” Griffin requested. “That’s the real question we’re going to face over the next two years.”
