By Carolina Mandl
NEW YORK (Reuters) – Citadel’s founder and CEO Kenneth Griffin said on Wednesday that U.S. President Donald Trump’s administration needs to be careful about potential damage to the creditworthiness of U.S. Treasuries.
“We put that brand at risk,” he said at a conference hosted by Semafor. “The President, the Secretary of Treasury and the Secretary of Commerce need to be very thoughtful that when you have a brand you need to behave in a way that respects that brand, that strengthens that brand, because when you tarnish that brand, it can be a lifetime to repair the damage that has been done.”
His comments come after the Treasuries market recently experienced dislocations triggered by tariffs. On the week of April 7, the run-up in yields this week topped the biggest weekly jump since 2001 following a sell-off.
Griffin, a Republican supporter who has said he voted for Trump in the November election, said he does not oppose tariffs, but argued the trade war is devolving into a “nonsensical place.”
“People are not going to build manufacturing in America, because with the policy volatility, you actually undermine the very goal you’re trying to achieve,” the founder of a multi-billion hedge fund and a market maker added.
As Trump’s administration approaches its first 100 days, Griffin said he considers the accomplishments so far mixed. While the investor criticized the tariff turmoil, he praised the Department of Government Efficiency’s (DOGE) efforts to cut costs as well as immigration policies at the southern border.
(Reporting by Carolina Mandl, in New York; Editing by Chizu Nomiyama)
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