Burry Warns: Fed's New Move Signals Banking System Weakness

Michael Burry, known for predicting the 2008 financial crisis, warns of another potential issue in the US financial system. The Federal Reserves plan to buy short-term Treasury bills, starting December 12th, is concerning to Burry. He believes this indicates the banking systems fragility and the Feds need to permanently expand its balance sheet post-crisis. Burry is avoiding bank stocks and keeping funds in cash or Treasury money market funds.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.