Billionaire Investor Howard Marks Says US Hasn't Had A Free Market In Decades Due Federal Reserve's 'Activist' Approach, Warning That 'Easy Money Corrupts'
Marks stated that the natural rate, which reflects the balance of supply and demand for money without central bank interference, ought to guide capital allocation decisions. He, however, pointed out that the financial market has not operated freely since the 90s due to the Federal Reserve's 'activist' approach.
