“The Federal Reserve’s $600 billion bond buyback program designed to fuel economic recovery is backfiring by stoking inflationary fears, says David Einhorn, head of the Greenlight Capital hedge fund.
The Fed’s program, known as quantitative easing, is designed to pump money into banks so they will fuel economic growth by lending more and by investing in stocks.
If the stock market rises, companies otherwise skittish about raising capital may do so and create jobs.
But inflationary fears are messing up plans.”
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