Billionaire, Harvard Donor Ken Griffin Says Protesters Are Byproduct Of "Failed Education System"
Ken Griffin, the founder of Citadel and a Harvard University alumnus, was interviewed Monday evening at the Milken Institute Global Conference in Beverly Hills.
During the interview, Griffin blasted protesters at woke elite colleges and universities, calling them a byproduct of a "failed education system." He also touched on macroeconomics, including his prediction that the Federal Reserve will cut rates in December.
Let's begin with Griffin's thoughts on Harvard:
"The only thing I can say about Harvard is we look much better given what we see at Columbia."
"I scratch my head — the audacity. The students seize one of the halls, commit acts of vandalism and — and I love this — and then try to negotiate for humanitarian aid."
Griffin, who, according to the Bloomberg Billionaires Index, is worth more than $37 billion, pointed out that these protesters are byproducts of a "failed education system."
The billionaire isn't wrong. Woke elite schools have moved away from actually teaching to instead offering indoctrination camps to brainwash the nation's youth with variants of the Marxist religion.
Griffin recently donated a $300 million gift to Harvard and said he would dramatically reduce future donations until the school "recommits itself to meritocracy in a very public and profound way." Months ago, he accused the woke colleges of producing a generation of "whiny snowflakes" instead of America's future leaders.
Ken Griffin, Citadel CEO, says he will curb "charitable giving until Harvard recommits itself to meritocracy in a very public and profound way."
— Bloomberg TV (@BloombergTV) May 6, 2024
More from the Milken Global Conference https://t.co/Q422ux7Wsw pic.twitter.com/mXikFyxozm
Griffin's interview also touched on monetary policy. He believes the Fed will begin the interest rate-cutting cycle in December.
"There is still a question of will inflation actually decelerate enough by then," he said, noting that wage growth and de-globalization "take away from the constant deflationary trend that has helped the pricing of goods for frankly most of our adult lifetime."
In a separate interview on Monday with CNBC, Griffin said the Fed is likely keeping interest rates higher for longer, and he called that the "right choice" as inflation reignites and economic growth slows, producing stagflation fears.
The market is pricing in a first cut in September (more dovish than Griffin)
...and a 56% chance of a second cut in December (conditioned on the first September cut).
Will Powell really start cutting so close to the election?
