Point72’s Steve Cohen:

We’re not in a recession yetI think we’re going to have significant slowing growthWe think it’ll probably be a 45% chance of recessionWill be slowdown, Fed will be slow to respondStocks could retest their April lows

Cohen emphasized the volatility of the economic environment, saying his answers might have been different a week ago.

Steve Cohen is an American billionaire hedge fund manager and philanthropist, best known as the founder and CEO of Point72 Asset Management, a global multi-strategy investment firm.

He began his career at Gruntal & Co. before launching S.A.C. Capital Advisors in 1992, which became one of the most successful hedge funds of its time. Following a high-profile insider trading case that led to a $1.8 billion settlement and a two-year ban from managing outside capital, Cohen rebranded his firm as Point72 in 2014. The firm reopened to external investors in 2018 and now manages over $35 billion in assets.

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