Warren Buffett thinks “fooling around” with the Fed’s political independence, could lead to “a lot of mischief.”
In a ‘walk-and-talk’ conversation with CNBC’s Becky Quick, as Buffett and M’soft’s (MSFT) Bill Gates toured Columbia University’s Manhattan campus on Nov 12, Buffet said “there is nothing more important in the economic future of the country than to have an independent Fed.”
According to Buffett, that’s been demonstrated over the years. “I think it was demonstrated even particularly last fall..we do not want to fool around with the independence of the Fed…I think it’s done a good job over the years. I think it’s had good leadership most of the time. I think it has terrific leadership now. And I think that curbing the independence of the Fed could lead to a lot of mischief.”
