Citadel founder Ken Griffin is sounding the alarm on President Donald Trump‘s tariff policies, warning they have “unleashed an era of crony capitalism” where the government picks “winners and losers” in the economy.
What Happened: “Tariffs open the doors to crony capitalism,” Griffin told Politico at the Milken Institute’s Global Conference. “I thought that would play out over the course of years. It’s terrifying to watch this play out over the course of weeks.”
The hedge fund billionaire’s criticism reflects growing concerns among Wall Street executives that the escalating trade war could derail economic growth despite the administration’s promises of prosperity. His comments come as the U.S. grapples with a record $140 billion trade deficit in March.
Griffin, a longtime GOP megadonor, expressed particular …