Ken Langone thinks the Fed messed up and millions of Americans will have to pay the price. The billionaire investor and Home Depot cofounder describes inflation (which came in at 6.4% higher than a year ago in January, the latest reading) as being “out of control” and sees little way for the central bank to rein it in without raising interest rates more and hurting the economy—something that needs to be done, he believes.
“Frankly, I don’t know how you avert a serious financial crisis where we are right now,” Langone told Fox Business on Wednesday. “If and when the big crash comes, it’s not going to be pretty.”
