TechFlow, December 11 — Howard Marks, co-founder of Oaktree Capital Management, warned that the Federal Reserve's "intervention" in the cost of capital will push investors toward riskier investments amid a slowing return environment. He stated he does not believe interest rates need to be significantly lower than current levels. Marks said, "I think the Fed should mostly stay passive, only stepping in when the economy is severely overheating and heading toward hyperinflation, or deeply depressed and unable to create jobs. I don't think we're in either of those situations now." Earlier this week, Marks wrote in a blog post that he feels 'fear' about AI's impact on employment, and questioned why massive companies are issuing large amounts of debt at very low yields to fund AI deployments while demand for AI remains uncertain. (Jinshi)
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