DRUCKENMILLER WARNS: ‘The chickens will come home to roost’
Myles Udland
BusinessInsider.com
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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