Global recession is inevitable if Strait of Hormuz stays shut, says Citadel’s Ken Griffin

Key Points

“Let’s assume [the Strait is] shut down for the next six to 12 months — the world’s going to end up in a recession,” said Ken Griffin, CEO of Citadel. “There’s no way to avoid that.”
As a result, the world is going to see a massive shift toward alternative fuel sources, including wind, solar and nuclear, he added.
To be sure, the hedge fund leader thinks the consequences of the war would have been worse if the U.S. delayed any strikes until Iran’s military capabilities had grown.

Source

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