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Holly LaFon
Holly LaFon
Articles (10163)  | Author's Website |

Stanley Druckenmiller on CNBC: 'I'm Worried About the Long Term'

Former Soros partner discusses interest rates and the economy

June 07, 2019 | About:

Hedge fund manager Stanley Druckenmiller (Trades, Portfolio) joined CNBC Friday morning to discuss the moves of the Federal Reserve and economic conditions.

"We had a booming economy, fairly early cycle. I know I talk too much about the Fed, but at the time I said they should sneak one in every time they can until they get to some normal rate," he said. "I deeply, deeply believe in a capitalist system you need a hurdle rate for investment. And if that rate is not up there somewhere around 3 or 4 [percent], people are going to get crazy."

Druckenmiller blamed Yellen for not raising rates earlier in the economic recovery following the recession.

"Chairman Powell has now got a tough situation on his hands," he said.

Druckenmiller also said he felt worried about the long term because monetary policy had created "a lot of build ups," and he criticized Trump for wanting to lower rates because of the large debt low rates had created.

Druckenmiller has one of the best records on Wall Street with his performance at George Soros (Trades, Portfolio)' Quantum Fund. He closed his hedge fund Duquesne Capital Management, in 2010, and runs Duquesne Family Office.



About the author:

Holly LaFon
I'm a financial journalist with a Master of Science in journalism from Medill at Northwestern University.

Visit Holly LaFon's Website


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