Bill Ackman says the US economy faces a real risk of a 'hard landing' if the Fed doesn't cut interest rates soon

• Bill Ackman said in a Bloomberg podcast he expects the US Federal Reserve to cut rates soon.
• He said the US economy risks a sharp downturn if the Fed doesn't cut interest rates soon.
• The Fed has raised interest rates 11 times since March 2022 to cool soaring inflation

Bill Ackman expects the US Federal Reserve to cut rates as early as the first quarter of next year.

The Fed needs to cut interest rates soon to avoid a sharp downturn in the US economy, the billionaire investor said on Bloomberg's "The David Rubenstein Show: Peer-to-Peer Conversations."