Steve Cohen says tariffs and DOGE's cuts are negative for economy, market correction could be soon

Billionaire investor Steve Cohen expressed a negative outlook on the U.S. economy, citing concerns about punitive tariffs, immigration crackdown, and federal spending cuts. He believes President Trump’s trade policy could lead to inflation and lower consumer spending, as well as a constrained labor supply due to immigration restrictions. Cohen criticized Elon Musk’s cost-cutting efforts and predicted a potential stock market pullback, with U.S. economic growth slowing to 1.5% from 2.5% in the second half of the year. Despite foreseeing a significant correction, he does not anticipate a disaster.

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