Legendary investor Carl Icahn warns of more SVB-style fiascos, sounds the inflation alarm, and predicts stocks will tumble
Carl Icahn has called on the Federal Reserve to keep hiking interest rates until it crushes inflation, and framed Silicon Valley Bank's failure as part of a wider problem of reckless spending and mediocre management.
Historic amounts of fiscal and monetary stimulus helped drive inflation to a 40-year high of 9.1% last June. The pace of price increases was 6% in February — still well above the Federal Reserve's 2% target. Along with inflation, Icahn bemoaned the number of bad bosses in the US, and suggested the SVB fiasco was a product of that problem.
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