This is breaking news. Please check back for updates.
Longtime hedge fund managerÂ Bill AckmanÂ urged PresidentÂ Donald Trump to shut down the country for 30 days to contain the coronavirus, calling it the only option to rescue the economy.
“What’s scaring the American people and corporate America now is the gradual roll-out,” Ackman said on CNBC’s “Halftime Report” on Wednesday. “We need to shut it down now… This is the only answer.” “America will end as we know it,” if the country doesn’t close entirely, he said.
Ackman added if Trump saves the country from the coronavirus, he will get reelected in November.
The founder of Pershing Square Capital Management said he felt a “tsunami” was coming before anyone else raised a red flag about the outbreak.
“Beginning in late January I was getting increasingly bearish and I woke up with a nightmare,” Ackman said. “And my nightmare was you have this virus that replicates and infects incredibly rapidly.” He added his colleagues thought he was a “lunatic” when he took cash from an ATM.
In the emotional interview, Ackman revealed he went into lockdown almost a month ago to save his father’s life who is immunocompromised.
Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world.