Hedge fund manager Dan Loeb thinks the world has become addicted to easy- money policy.
“I say we’ve got to take the crack-cocaine pipe away and start focusing on real fiscal policy and structural reforms to get things going again,” the head of Third Point said Wednesday at an event with Japanese Prime Minister Shinzo Abe.
To spur growth, the US should pass the Trans-Pacific Partnership trade agreement, implement labor reforms and reduce regulations that make it difficult for businesses to grow, Loeb said.
Easy money — typically in the form of low interest rates — is a tough habit to kick, apparently.
After a two-day policy meeting, the Federal Reserve on Wednesday left interest rates unchanged.
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