Billionaire hedge fund manager argues for increasing immigration to fight inflation

CNN — Bill Ackman, the billionaire hedge fund manager and activist investor, has an alternative idea to fight inflation: Increase immigration.

He criticized the Federal Reserve's interest-rate hikes in a series of tweets Thursday and Friday as a blunt tool that will destroy consumer demand and trigger a recession.

"Inflation can be mitigated by reducing demand and/or by increasing supply," tweeted Ackman of Pershing Square Capital. "Doesn't it make more sense to moderate wage inflation with increased immigration than by raising rates, destroying demand, putting people out of work, and causing a recession?

The argument goes that by increasing the availability of workers in the United States, businesses will be less strained to fill open positions.

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