Hedge fund manager Michael Burry, famed for forecasting the 2008 financial crisis, says that the Federal Reserve “has no intention of fighting inflation.” He added that the Fed’s “Serial half-point hikes are for getting elevation before stocks and the consumer tap out.”
Michael Burry on Inflation and Fed’s Rate Hikes
Famous investor and founder of investment firm Scion Asset Management, Michael Burry, shared his thoughts Thursday on the U.S. economy, inflation, and interest rate hikes.
He is best known for being the first investor to foresee and profit from the U.S. subprime mortgage crisis that occurred between 2007 and 2010. He is profiled in “The Big Short,” a book by Michael Lewis about the mortgage crisis, which was made into a movie starring Christian Bale.
Burry tweeted Thursday:
The Fed has no intention of fighting inflation. Serial half-point hikes are for getting elevation before stocks and the consumer tap out.
“Same with rapid-fire QT [quantitative tighten
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