Hedge fund guru David Einhorn says the Federal Reserve’s near-zero interest rate policy is counterproductive, and says it should raise rates to help the economy. Einhorn tells CNBC that low rates “deprives savers of reasonable incomes”, and cuts down on consumption. He also says it drives food and oil prices upward and decreases standards of living. He thinks the Fed should begin to raise rates to the 2% to 3% range. Einhorn also discusses some of the stocks he’s high on, including Apple.
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