CNBC: Stanley Druckenmiller Sees 'Hard Landing' in 2023 with a Possible Deeper Recession Than Many Expect

Article by Yun Li in CNBC financial website

Billionaire investor Stanley Druckenmiller believes the Federal Reserve’s attempt to quickly unwind the excesses it helped build up for a decade with easy monetary policy will not end well for the U.S. economy.

“Our central case is a hard landing by the end of ’23,” Druckenmiller said at CNBC’s Delivering Alpha Investor Summit in New York City Wednesday. “I will be stunned if we don’t have recession in ’23. I don’t know the timing but certainly by the end of ’23. I will not be surprised if it’s not larger than the so called average garden variety.”

And the legendary investor, who has never had a down year in the markets, fears it could be something even worse. “I don’t rule out something really bad,” he said.

Druckenmiller believes ......

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