Does it matter that central banks are losing squillions?
The QE flipside — red ink everywhere
Originally published in the Financial Times on February 1, 2023.
There have been a lot of red faces in the asset management industry lately, with Tiger Global alone incinerating almost $18bn in 2022. But you know who really sucks at investing? Central banks.
Take the Federal Reserve, for example. Chair Jay Powell had the Fed gobbling up almost every bond…
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