Pershing Square's Ackman Sees 2027 as "Stunning Year" for U.S. Stocks as War and Inflation Pressures Ease

Pershing Square CEO Bill Ackman said on Thursday that geopolitical and inflation pressures are suppressing market conditions that would otherwise be stronger, but a lighter risk backdrop will make 2027 "an amazing year." In a CNBC interview, he argued that Middle East peace could ease uncertainty, send oil prices lower and reduce Federal Reserve tightening pressure, though he acknowledged the improvement depends on how those factors evolve. U.S. crude has risen 72% this year and Brent 78%, with energy costs feeding through to consumers; September CPI rose 3.7% year over year, with gasoline contributing more than half of the monthly gain. Ackman said the Fed is caught between keeping rates high, which weighs on valuations, and easing too soon, which risks sticky inflation. He continues to favor Netflix, calling content-library concerns overblown at roughly 18 times earnings, and Meta, where he expects AI agents and advertising gains to support undervalued shares. He repeated bullish calls on Fannie Mae and Freddie Mac, saying their rebuilt capital makes them the most asymmetric risk-reward bet and that the stocks "will go up ten times."