Ray Dalio says Kevin Warsh shouldn't cut interest rates in a ‘stagflation’ era

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Billionaire investor Ray Dalio warned the U.S. economy has slipped into a stagflationary environment and said it would be a mistake for potential Federal Reserve chair successor Kevin Warsh to lower interest rates. The founder of Bridgewater Associates said persistent inflation pressures alongside slowing growth create a backdrop that demands caution from policymakers. “We are certainly in a stagflationary period,” Dalio said Monday on CNBC’s “Money Movers.” “Because of the issues that are here, in terms of a more immediate inflation, farther from the target.” Dalio said that if Warsh, who now has a clear path to succeeding Jerome Powell as the next leader of the Fed in mid-May, were to cut rates, it would risk damaging confidence in the central bank at a critical moment.