DRUCKENMILLER WARNS: ‘The chickens will come home to roost’

Wednesday, November 4, 2015
By Paul Martin

Myles Udland
Nov. 4, 2015

Stanley Druckenmiller doesn’t think the Federal Reserve’s experiment of keeping interest rates near 0% to spur economic growth will end well.
Speaking at The New York Times’ DealBook Conference on Tuesday, Druckenmiller said “all you do” when keeping interest rates at 0% for this long is “pulling demand forward today.” “This is not some permanent boost you get — you’re borrowing from the future,” he said.

Druckenmiller also said he thought there had been “a misallocation of resources” because the zero-interest-rate policy had gone on so long and, he said, “so unnecessarily.”

“The chickens will come home to roost,” he added.

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