Ackman: Economy Slowing as Rates Rise, Impacting Mortgages, Cars and Credit Cards

Economy is slowing down due to higher interest rates, according to Bill Ackman. Mortgage, car, and credit card rates are having an impact.

Ackman says people with short-term, low fixed rate debt that is being repriced are most challenged. He sees this as the "big threat."

Ackman's firm Pershing Square Capital Management owns major stakes in Chipotle, Restaurant Brands International (Burger King), and Lowe's.

Chipotle stock is up 34% year-to-date, while Restaurant Brands is down 1% and Lowe's is struggling with comparable sales down 1.6%-4%.

Ackman notes many businesses and homeowners still have low, fixed-rate debt that protects them from higher rates.