An Institutional Investor Hall of Famer sees more trouble lurking in the market.
Richard Bernstein warns unprecedented Federal Reserve policies may eventually cause serious harm.
He cites near record deficits and aggressive efforts to increase the money supply among the biggest problems.
“I’m surprised that people aren’t more concerned about what huge monetary growth means for the economy in the United States now,” the CEO and Chief Investment Officer of Richard Bernstein Advisors told CNBC’s “Trading Nation” on Wednesday.
Bernstein is particularly concerned about the vast bond purchases the Fed is making right now.
“They’ve effectively turned the bond market