Central bankers were left baffled by billionaire US investor Warren Buffett's claim last Thursday that the Federal Reserve was "the greatest hedge fund in history". "I don't understand the hedge fund analogy at all; in fact, I think it's wrong," Gary Stern, president of the Federal Reserve Bank of Minneapolis from 1985 to 2009, has told CentralBanking.com.
But the sage of Omaha's comments have fuelled debate among economists and central bank insiders about the practices and policies of the Fed,
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