Overview

• At the Forbes Iconoclast Summit, Citadel founder Ken Griffin said he cut 2025 U.S. growth estimates by roughly half since tariffs took effect.
• Griffin argued that tariff-driven import costs have undermined American exceptionalism and saddled consumers with higher prices.
• He cited the Congressional Budget Office’s forecast that the GOP tax bill will swell federal deficits by $2.4 trillion over the next decade.
• Griffin highlighted credit-market concerns by noting U.S. default risk is priced on par with Italy and Greece.
• He defended Walmart’s CEO for warning about price hikes and questioned the push to onshore low-wage manufacturing jobs.