Bloomberg – Policy makers seeking to rescue the U.S. economy are wrong to worry about the threat of inflation and should heed Warren Buffett’s call for higher taxes on the wealthy, according to Don Brownstein, manager of last year’s top-performing hedge fund.
Some Federal Reserve members and lawmakers, acting the part of “modern day ‘Know-Nothings,’” have been “raving about imaginary uncontrolled inflation and wringing their hands over government deficits,” Brownstein, whose Structured Portfolio Management LLC manages about $2 billion of assets, wrote last week in a letter to investors.
