What Bridgewater’s Ray Dalio Told The New York Fed
by Tyler Durden
ZeroHedge.com
Oct 6, 2016
Remarks at the 40th Annual Central Banking Seminar
It is both an honor and a very special opportunity for me to be able to address such a large and esteemed group of central bankers at such an interesting time for central bankers. I especially want to thank President Dudley and Vice President Schetzel for inviting me to forthrightly share my perspective as an investor and my unconventional template that I believe sheds some light on the very unconventional circumstances that we face.
It is no longer controversial to say that:
• …this isn’t a normal business cycle and we are likely in an environment of abnormally slow growth
• …the current tools of monetary policy will be a lot less effective going forward
• …the risks are asymmetric to the downside
• …investment returns will be very low going forward, and
• …the impatience with economic stagnation, especially among middle and lower income earners, is leading to dangerous populism and nationalism.
The Rest…HERE
