Carl Icahn, the man who Donald Trump has suggested would be his top choice for Treasury Secretary should he become president, has published a 14-minute video explaining his positions on economic policy including specifics on monetary policy where he emphasized that the “Fed’s policy of low interest rates” is pumping bubbles.

[Update: I didn’t realize that the direct link to the video doesn’t work as a standalone link when I provided it. Consequently, I have removed that link. You can access the video on Mr. Icahn’s home page.]

Reuters also has a story on the video with some direct quotes from it. The title of the Reuters story is: Icahn urges Fed to get off zero, says ‘treacherous path’ undertaken and quotes Icahn thus:

They don’t understand the treacherous path they are going down,” Icahn said in an interview with Reuters, in which he also declared his support for Donald Trump as a candidate to be the next U.S. president.

“God knows where this is going. It’s very dangerous and could be disastrous,” said Icahn, who has been a consistent critic of the Fed for keeping its benchmark interest rate close to zero since late 2008.

Icahn, a Wall Street veteran who made his fortune buying stakes in companies such as RJR Nabisco, Texaco, Phillips Petroleum, Lions Gate Entertainment Corp, Netflix Inc, Apple and eBay Inc and pushing their management to change their strategy, said that he is hedged against the possibility of a market meltdown.

“I got a huge hedge on against my long positions. So if you say, I am short, yeah, I am short big but then again, I am long bigger,” Icahn said, acknowledging that he is a big beneficiary of the Fed’s policies even as he criticizes them.

For all my readers who have been guessing as to the position of a would-be Trump Administration on monetary policy, we now have it.

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