Steve Cohen ‘Negative’ on US Economy, Citing Tariffs and DOGE

US growth is likely to slow in the second half of the year as tariffs, tighter immigration laws and government cost-cutting efforts led by Elon Musk weigh on the economy, billionaire Steve Cohen said.

The Point72 Asset Management founder, speaking at the Future Investment Initiative Institute’s summit in Miami Beach Friday, struck a bearish tone when asked about his outlook. He pointed to sticky inflation, slowing growth and the possibility of tit-for-tat tariffs as drags on the US economy.