Wall Street is facing a harsh reality check as billionaire Bill Ackman publicly acknowledged his miscalculation regarding President Trump’s economic policies.
After markets plummeted by nearly $6 trillion in a two-day rout, Ackman tweeted “My bad,” admitting he “assumed economic rationality would be paramount” and didn’t foresee Trump actually implementing his promised tariffs.
This came as a stark contrast to Ackman’s post-election enthusiasm when he predicted Trump would lead “the most pro-growth, pro-business, pro-American” administration in his lifetime.