Guggenheim’s Minerd Says Fed Has ‘Abandoned’ Monetary Orthodoxy
- Fed too reactive to markets, lax on money supply, Minerd says
- Powell will try to be a ‘maestro’ in pursuing rate hikes
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Guggenheim Partners Chief Investment Officer Scott Minerd said the Federal Reserve is in an “inflation panic” as it begins to tighten monetary policy in response to inflation.
The U.S. central bank has paid too much attention to financial markets at the expense of its job to control money supply and manage its balance sheet, Minerd said during an interview on Bloomberg Television.