The central bank risks its credibility by keeping policy loose and allowing inflation to grow in a way that may not be transitory, Paul Tudor Jones told CNBC.
to interest rates, which are near zero, or its $120 billion a month asset purchase program.
When the two-day meeting concludes Wednesday, the market expects that at most Fed officials may address the idea of when it will start pulling back on its bond buying. "It's an intellectual incongruity that risks damaging their forecasts if they're wrong on inflation on their inflation forecast," he said., a development that he said could allow the Fed to "declare victory" on its employment mandate.
All the Fed easing has come along with more than $5 trillion in congressional stimulus and the possibility of even more coming in infrastructure spending.
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