"We are not yet in recession, but economic growth has slowed significantly," Steve Cohen, a billionaire investor and founder of hedge fund Point72 Asset Management (known as "Wall Street's craziest money-making machine"), said at the Sohn Investment Conference in New York on Wednesday, Internet reported. Cohen, 68, said he did not think the Fed would cut interest rates immediately because "they would be concerned about inflation caused by tariffs." He predicts that U.S. economic growth will slow to 1.5% or lower next year."This level is acceptable, but not impressive." He mentioned that the stock market's plunge and rebound in April seemed abnormal in terms of the speed of reversal, and stressed that he was closely monitoring the market reaction after the release of the next round of U.S. economic data. Even if the market does fall, he expects the decline to be between 10% and 15%,"which is not catastrophic." He added that the U.S. stock market is likely to remain sideways for some time. (Jin Shi)