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Ray Dalio Comments on US Economy
Posted by: Holly LaFon (IP Logged)
Date: September 12, 2012 11:17AM
(Reuters) - Hedge fund titan Ray Dalio said the U.S. economy had come out of the "intensive care unit," but he warned against any quick move to "austerity" budget measures.
"We were in the intensive care unit," Dalio, who runs the $120 billion hedge fund Bridgewater Associates, told more than 200 guests at the Council of Foreign Relations in Manhattan on Wednesday. "We are largely healed and largely operating in a manner that is sustainable if we don't hit an air pocket."
Dalio said a major challenge for U.S. politicians will be dealing with the so-called fiscal cliff, which many in Washington call the year-end expiration of the Bush-era tax cuts and previously agreed-upon cuts in defense spending and social programs.
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