‘We are going to go into a really fast recession.’

“Housing is starting to roll over,” he said. “Inventories have exploded.”

....

So far, the noted investor’s prediction has played out, with the Dow Jones Industrial Average DJIA, +1.00% rising more than 300 points, or 1%, after briefly running its gain to 600 points, after the Fed meeting broke up and a news conference hosted by Chairman Jerome Powell got under way.

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