Einhorn Sees Counterproductive Monetary Policy Bullish for Gold
- Hedge fund manager cites increasingly aggressive policies
- Fed is ignoring employment and core inflation data, he says
This article is for subscribers only.
Hedge fund manager David Einhorn said his stake in gold is poised to generate profits as central banks around the world continue to ease monetary policy.
Discussing the results for reinsurer Greenlight Capital Re Ltd. Tuesday, Einhorn criticized the European Central Bank’s “kitchen-sink policy" of record-low borrowing costs, expanded asset purchases and borrowing subsidies. He also said the Bank of Japan’s negative interest rate policy and reduced forecasts for U.S. rate hikes may contribute to boosting the value of gold.