The flexible monetary policy of the U.S. Federal Reserve (Fed) has led to the emergence of “tumors” like bitcoin. Nassim Taleb, philosopher and author of the cult work “Black Swan,” stated this.
In his opinion, because of this approach, people under 40 do not understand how the economy works. Society will have to face the consequences, the philosopher warned:
“Zero interest rates over a long period of time are hurting the economy, you’re creating bubbles, you’re creating tumors like bitcoin.”
Taleb called for a return to “normal economic life. He noted that the price of the first cryptocurrency at $20,000 means there are “some things that need to be fixed.”