Hedge fund titan Paul Tudor Jones was on Bloomberg TV today:
Tudor Jones says the Fed is managing its balance sheet to take on tail risks rather than the economy. He said similar episodes of slowdowns in global markets and declines in commodity prices have led to easing but the Fed is now cautious not to expand credit.
He was asked if it points to a bear market and he hemmed and hawed for a moment and then said it points to a choppier market.
"Now I think for the first time since Volcker probably you see the Fed managing for the balance sheet, to take out the tail risk associated with expanding debt virtually globally, and not to mention our federal debt," Jones said
