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Steve Cohen, the hedge fund billionaire who owns the New York Mets, said Wednesday that the Federal Reserve faces a tough road getting inflation down to its 2% target.

The Fed thinks its eventually going to come down to a 2% inflation rate. I think thats going to be hard, Cohen told CNBCs “Squawk Box.”

The Point72 Asset Management founder and CEO cited underemployment in the US as reason inflation will remain stubbornly high, arguing a lack of workers could create upward pressure on inflation if economic growth remains strong.

If growth is too fast, then you start getting constraints on labor and wages go up, and that may be a problem,” he added. “Were in one of these problems where I dont think many people know exactly what is going to happen.”

Despite his skepticism about inflation hitting 2% — a figure the US economy hasn’t seen in more than a decade — Cohen said, “I think inflations been somewhat contained.”

“I think ultimately it will come down to: is that a true statement or not, Cohen — also the chairman and CEO of the New York Mets — told CNBC.

Representatives for Point72 declined The Post’s request for comment.

Per the latest Consumer Price Index which tracks changes in the costs of everyday goods and services  US inflation rose a stiffer-than-expected 3.2% in February.

Yet another yearly increase in consumer prices means that the CPI reading has yet to drop on a yearly basis since President Joe Bidens term began in January 2021.

The closest the economy has gotten to a yearly decrease since Biden took office was in July 2022, when the inflation rate remain unchanged, at a sky-high 8.5%.

On a monthly basis, prices also edged 0.4% in February, driven primarily by the indexes for shelter and gasoline, which contributed to more than 60% of the advance, the Bureau of Labor Statistics reported.

Despite remaining elevated, February’s CPI marks a stark slowdown from inflation’s peak at a staggering 9.1% in June 2022, which prompted Fed officials to begin a rate-hiking campaign that lifted the benchmark federal funds rate 11 times in 2022 and 2023, landing on its current 22-year high, between 5.25% and 5.5%, in July 2023.

March’s CPI reading is set to be released on April 10.

Wall Street is widely hoping for a figure that shows a month-over-month slowdown in inflation as it would prompt central bankers to make the first of three anticipated rate cuts this year sooner rather than later.

Separately on Wednesday, Fed Chair Jerome Powell reiterated that the US central bank has time to deliberate over its first interest rate cut given the strength of the economy and recent high inflation readings.

“Recent readings on both job gains and inflation have come in higher than expected,” Powell said in remarks prepared for delivery at the Stanford Graduate School of Business.

“Recent data do not, however, materially change the overall picture, which continues to be one of solid growth, a strong but rebalancing labor market, and inflation moving down toward 2% on a sometimes bumpy path.”

“Given the strength of the economy and progress on inflation so far, we have time to let the incoming data guide our decisions on policy,” Powell said, with decisions made “meeting by meeting.”

“If the economy evolves broadly as we expect,” Powell said, he and his Fed colleagues largely agree that a lower policy interest rate will be appropriate “at some point this year.”

But that will only happen once policymakers “have greater confidence that inflation is moving sustainably down” to the central bank’s 2% target, Powell said — also a repeat of language the Fed has adopted of late to reflect its effort to balance the risks of cutting interest rates before inflation is truly controlled with the risks of suppressing economic activity more than is needed.

With Post wires

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Cyclones name WSU’s Rogers to replace Campbell

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Cyclones name WSU's Rogers to replace Campbell

Washington State coach Jimmy Rogers has agreed to a six-year deal to become the next coach at Iowa State, the school announced Friday.

Iowa State athletic director Jamie Pollard moved quickly to replace departing coach Matt Campbell, who agreed to an eight-year deal to take over Penn State on Friday, and landed Rogers, a proven winner at the FCS level who just concluded his first regular season at Washington State.

“Jimmy Rogers is a rising star in college athletics who has very strong ties to the Midwest both as a player and as a coach,” Pollard said in a statement. “He has been on my short-list ever since the first time I met him. He immediately impressed me with his interest in Iowa State University and told me during our first visit several years ago that he wanted to be the next head coach at Iowa State.

“Since our initial meeting, I have stayed in close contact with him and have been very impressed with his work ethic and understanding of what it takes to be successful at Iowa State,” Pollard added. “He is a proven winner who has demonstrated throughout his career that he will fit our culture.”

Rogers, 38, has a 33-9 record over three seasons as a head coach. He went 6-6 in his debut season at Washington State after overseeing a significant roster rebuild following the departure of coach Jake Dickert to Wake Forest.

“My family and I are excited to be joining the Iowa State University community and the Cyclone football program,” Rogers said in a statement. “Iowa State has been one of the nation’s top programs for the last decade and we look forward to building upon its upward trajectory. I’m extremely grateful for the opportunity that Jamie Pollard has given me to lead the Cyclones.”

Rogers previously spent 12 years at South Dakota State and led his alma mater to an FCS national championship in 2023 with a 15-0 season in his first year as the Jackrabbits’ head coach after taking over for longtime coach John Stiegelmeier.

Rogers carried a 29-game win streak into his second year as coach and achieved a No. 3 finish in 2024 with a run to the FCS playoff semifinals and a 12-3 season.

The Jackrabbits also won the FCS national championship in 2022 after Rogers was elevated to being the team’s sole defensive coordinator, and they played for another FCS title in 2020.

Campbell, the winningest coach in Iowa State history with 72 victories, led the Cyclones to eight winning seasons during his decade at the helm and two appearances in the Big 12 championship game.

The Cyclones went 8-4 this season and are awaiting their bowl selection on Sunday.

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Cool it! JMU AD scolds fans for throwing snowballs

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Cool it! JMU AD scolds fans for throwing snowballs

HARRISONBURG, Va. — James Madison athletic director Matt Roan used the public-address microphone to implore Dukes fans to stop throwing snowballs onto the field during the Sun Belt Conference championship game against Troy on Friday night, warning that their actions could cost JMU a penalty.

Roan’s address to the crowd followed an incident that affected the game.

With 4:30 left in the first quarter, Troy’s Evan Crenshaw was nearly hit by a snowball while punting from the end zone with the JMU student section behind him. Crenshaw shanked a 26-yard punt that helped set up the Dukes’ first score, a 40-yard field goal.

Fans in the student section began throwing snowballs during pregame warmups, when the Dukes’ marching band got pelted. They kept it up for most of the first half, despite repeated warnings over the PA system.

Harrisonburg received about 1½ inches of snow Friday, its first measurable snowfall of the season.

No. 19 JMU had an outside shot at making the College Football Playoff field with a win over Troy and a loss by No. 16 Virginia to Duke in Saturday’s Atlantic Coast Conference championship game.

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No. 1 recruit DT Lamar Brown signs with LSU

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No. 1 recruit DT Lamar Brown signs with LSU

LSU and coach Lane Kiffin closed a busy early signing period with a bang Friday, officially securing the signature of defensive tackle Lamar Brown, ESPN’s No. 1 overall 2026 recruit.

Brown, a 6-foot-5, 285-pound defender from Erwinville, Louisiana, signed his letter of intent on the final day of the three-day period, the program announced, formally joining Kiffin and the Tigers as the program’s first No. 1 overall addition since Leonard Fournette in 2014.

Committed to the program since July, Brown was not initially expected to sign this week following meetings between Brown’s representatives and members of the LSU staff Tuesday.

While Brown remained verbally committed to the program, sources told ESPN that his camp harbored reservations over Kiffin’s to-be-completed coaching staff. Uncertainty hanging over the futures of Tigers interim coach Frank Wilson and defensive coordinator Blake Barker marked a particular concern for Brown, who attends high school on the LSU campus and developed close relationships with the program’s previous staff during his recruitment.

As of Friday afternoon, the Tigers have not publicly announced plans for the program’s defensive staff. The statuses of Wilson and Baker, a reported candidate for multiple head coach openings across the country, remain unclear, too. But according to ESPN sources, Brown and the Tigers progressed toward his signing through talks across Wednesday and Thursday, culminating in the program officially landing his signature Friday afternoon.

Within an impressive Tigers defensive class in 2026, Brown was not alone in initially holding off on signing this week before ultimately submitting the official paperwork.

LSU officially announced the signing of ESPN 300 defensive tackle Richard Anderson (No. 90 overall) on Thursday after questions swirled over his signature on the opening day of the signing period. Top 60 defensive linemen Deuce Geralds (No. 39) and Trenton Henderson (No. 60) each pushed their signings to Friday. Henderson, amid late flip efforts from Auburn and Florida State, gave the Tigers his signature Friday morning. Geralds, ESPN’s No. 2 defensive tackle in 2026, followed in the afternoon, minutes before the program announced Brown’s signing.

For Kiffin, who officially arrived Sunday, Brown’s signature closes LSU’s class of ESPN 300 additions and marks a strong finish to a hectic first week on the recruiting trail with the Tigers.

Uncertainty surrounding Brown and the program’s top defensive pledges hung over early-week commitments from wide receiver Brayden Allen and former Ole Miss pledges J.C. Anderson (No. 165 in the ESPN 300) and Ryan Miret. Pass catcher Corey Barber, another ex-Rebels commit, also signed with the Tigers on Wednesday. LSU also lost five commitments following Kiffin’s arrival, headlined by safety Dylan Purter (No. 266), who flipped to Florida on Thursday.

Kiffin & Co. took some big swings, as well. Sources tell ESPN that the Tigers made late efforts to flip USC tight end signee Mark Bowman (No. 29 overall) and four-star South Carolina quarterback signee Landon Duckworth (No. 186). LSU also attempted to sway No. 1 wide receiver Chris Henry Jr., who affirmed his pledge to Ohio State and signed Friday.

With Brown officially in the fold, the Tigers will close the early signing period with the nation’s No. 14 signing class in ESPN’s latest class rankings for the cycle.

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