Paul Singer does not like the US Federal Reserve. Nor is he shy about sharing his opinions on the Fed, its policies or its chairman.
Mr Singer, who runs the $22bn Elliott Management hedge fund, has called Fed policy makers “frantically flailing, over-educated, posturing bureaucrats engaged in ever more astounding experiments in monetary extremism”.
In a 2011 polemic to his investors, he described the commentary of Ben Bernanke, the Fed chairman, as “more like careless talk-radio rants” than prudent statements appropriate to the guardian of the US dollar. Until the Fed allows interest rates to rise, “capital will continue to be misallocated throughout the economy, real investment ‘risk’ will be almost impossible to determine and a firm foundation for solid growth in the American economy cannot be created.”