Citadel’s Ken Griffin said heavy selling of Japanese government bonds this week should serve as an “explicit warning” to US politicians to improve the nation’s finances.

“The bond vigilantes can come out and extract their price,” Griffin told Bloomberg Television at the World Economic Forum in Davos. “What happened in Japan is a very important message to the House and to the Senate: You need to get our fiscal house in order.”

Dealers in Tokyo said Tuesday’s trading session was the most chaotic in recent memory as yields on Japan’s 30- and 40-year bonds jumped by more than 25 basis points, the biggest move since US President Donald Trump’s “Liberation Day” tariffs rattled global markets last year.

Still, Griffin said the US is in a different position than Japan and is probably not in immediate danger.

“The US has so much wealth that we can maintain this level of deficit spending for some period of time,” he said. “But the longer we wait to change direction, the more draconian the consequences will be of that change.”

In a wide-ranging interview, Griffin expressed optimism about Trump’s deregulation agenda. He also had a lot of praise for other works in progress under Trump — including on the US southern border — but emphasized he is a strong advocate for smart immigration policies. Many of Citadel and Citadel Securities’ top executives are from all over the world, Griffin said.

He broke step with the president somewhat on housing policy, saying the real issue with the US market is lack of supply and over-regulation.

Griffin also added that US business executives are making a mistake if they aren’t voicing their opinions about Trump’s policies.

“They really should not be afraid to use their voice,” Griffin said. “He’ll have his moments where he’ll troll. He’ll have those moments — but he does listen.”