Citadel CEO warns of recession over Hormuz closure
Ken Griffin warns that a prolonged closure of the Strait of Hormuz could trigger a global recession. He also noted the resilience of the Iranian military.
Billionaire investor Ken Griffin, the founder and CEO of Citadel, has warned that the global economy faces a "treacherous moment" due to the ongoing conflict in the Middle East. Speaking at the Semafor World Economy Forum, Griffin emphasized that a prolonged closure of the Strait of Hormuz could trigger a worldwide economic recession. The stability of the global financial system currently depends on the uninterrupted flow of energy commodities, including Brent Crude Oil, through these critical shipping lanes. Griffin noted that if the strait remains effectively shut down for the next six to 12 months, the world is likely to enter a recession.
"This really is a very, very treacherous moment for the world economy."
