Stan Druckenmiller, the legendary hedge fund manager who worked for George Soros Quantum Fund. In early 1990, he and George Soros broke the Bank of England when they heavily shorted the British Pound anticipating that BOE would not be able to defend the British Pound. Their bet paid off and in one day both of them reputedly made a profit of more than $1 Billion. Stan Drukenmiller consider FED present policy to be fraught with high risk.
“I am fearful that today our obsession with what will happen to markets and the economy in the near term is causing us to misjudge the accumulation of much greater long term risks to our economy,” Druckenmiller said Wednesday at the Delivering Alpha conference presented by CNBC and Institutional Investor. What this means is that he wants the FED to focus more on the long term and focus less on the short term.
You can read Druckenmiller detailed recent interview posted here in which talks more FED policy and it’s implications according to him.