This hedge fund billionaire made one prediction about the 2024 election that has working class Americans giddy with anticipation

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The United States economy feels like it is on borrowed time as people struggle to make ends meet.

Radical decisions by the Biden administration have led to soaring inflation and rising interest rates.

And now this hedge fund billionaire made one prediction about the 2024 election that has working class Americans giddy with anticipation.

Inflation finally returned to below 2 percent at the end of 2023

In 2021, President Joe Biden took office, and the consumer price index (CPI) was growing at a rate of just a quarter of a percent each month. 

It didn’t take long for it to rise to 5.5% in Biden’s first year as President. 

Americans were shocked by the surge in prices as experts began to predict something worse was coming.

Moving into 2022, the Federal Reserve tried to intervene – attempting to clean up a mess their unelected bureaucrats helped create – increasing interest rates for the first time since 2018. 

In March, the rates were below 0.5%, and by the end of the year they were up to 4.5%. 

But despite their efforts, the CPI continued to climb hitting an eye-watering 10.6%.

The campaign to battle inflation continued all the way into the latter half of 2023, when rate hikes finally came to a halt in July. 

CPI finally came back to the so-called “normal” range in October 2023 when they fell below 2% for the first time since June 2021.

Now, a billionaire hedge fund manager says people should expect more good news.

Ackman has good news

Bill Ackman went on CNBC’s Squawk Box last week to deliver some much-needed good news for people who are struggling to access financing for large purchases like homes and cars. 

The financial analyst and hedge fund manager said that Americans should expect significant rate cuts ahead of the 2024 elections.

“Right now, with inflation cooling very meaningfully, the real cost of money is very high right now, Ackman said. “So, I think they’re going to have to move early.”

He added that the U.S. central bank could do “more than three cuts” in 2024 beginning as early as March.

The Federal Reserve’s unelected bureaucrats are supposedly charged with “managing” America’s supposedly free market economy, and he believes that if they don’t start cutting the rates it could land the U.S. in a “meaningful recession.” 

If the cost to access capital remains in the current range, it would ultimately hit sock prices and impact 401k accounts for millions. 

This would severely hamper Biden’s campaign for re-election, and it’s likely he will put extra pressure on the central bank.

Some experts expect rate cuts to begin in May 2024

Others benefiting from trading funds futures are expecting even more rate cuts than Ackman, but they believe it won’t happen quite as quickly as he says. 

The CME Group is highly dependent on the Fed’s rates, and they make predictions about rate changes for upcoming Fed meetings. 

The group says that there is a 95% chance the rates will remain the same at the next meeting.

Solita Marcelli is the chief investment officer at UBS Global Wealth Management, and she predicts the moves will begin in May. 

According to Marcelli, the “base case scenario is for four 25-basis-point rate cuts this year…”

This could bring major relief to Americans looking to buy or sell their homes going into 2024. 

Just in time for Joe Biden’s attempt at re-election.

US Political Daily will keep you updated on any developments to this ongoing story.