Guggenheim’s Scott Minerd Says Coronavirus May Be Worst Event in His Career
- The Fed has few tools to combat the growing crisis, he says
- Guggenheim money manager oversees about $215 billion in assets
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Scott Minerd, who oversees about $215 billion for Guggenheim Investments, said the coronavirus is “possibly the worst thing I’ve seen” as a money manager because of its potential to spread globally and the Federal Reserve’s limited tools to blunt its economic impact.
“The Fed is fairly impotent in this environment,” Minerd, 60, said during a Bloomberg Television interview on Thursday.