The Fed is terribly, horrendously, tragically wrong. Or so says David Einhorn.
According to Einhorn, the economy doesn’t need lower rates, but higher rates. Our current low rate environment encourages future retirees to save more, not save less. Raise rates, raise them now, and in short order we’ll see a surge in spending.
Einhorn, in theory, might well be right. But he might also be wrong.