Billionaire investor Leon Cooperman says Fed relief efforts have created a 'speculative bubble'
Billionaire investor Leon Cooperman told Bloomberg that the Fed has created a "speculative bubble."
Cooperman said markets are not focused on the debt in the US that's growing at a pace far exceeding the general economy.
The investor said that he sees the continued "artificial support" for the economy as negative.
Wall Street legend Leon Cooperman told Bloomberg on Monday that the Fed has created a "real speculative bubble."
The hedge fund manager said he's "uncomfortable" at the moment because the market is not focused on the amount of debt being created in the nation. Cooperman emphasized that the US has piled up $21 trillion of debt in its 244 years, and said it will probably end 2020 with $27 trillion in debt.
"That is a growth rate in debt far in excess of what the economy is growing at and I think that's going to be a problem down the road," he said.