Kyle Bass: America is at risk of turning Japanese

Hedge fund boss Kyle Bass thinks that the US is heading for recession, with even the gloomiest projections wrong.

Kyle Bass, chief investment officer of Hayman Capital Management LP © Patrick T. Fallon/Bloomberg via Getty Images

(Image credit: Kyle Bass, chief investment officer of Hayman Capital Management LP © Patrick T. Fallon/Bloomberg via Getty Images)

America is at risk of turning Japanese, says hedge-fund manager Kyle Bass. The US central bank, the Federal Reserve, is expected to cut interest rates later this month, in hope of boosting inflation. Markets already expect a significant reduction in rates over the longer term, but Bass tells the Financial Times that he thinks even the gloomiest projections are wrong.

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