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Taleb: Fed Won’t Exist in 25 Years, Bernanke a ’Failure’

Thursday, 02 Jun 2011 03:37 PM

The Federal Reserve won’t exist in 25 years and the reappointment of Ben Bernanke as head of the central bank was a “management failure,” said Nassim Taleb, author of ‘The Black Swan.’

Allowing Bernanke to stay at the helm of the Fed is equivalent to “letting an unqualified pilot fly a plane,” Taleb, a principal at Universa Investments LP, told a conference in Moscow, Russia today.

To contact the reporter on this story: Scott Rose in Moscow at rrose10@bloomberg.net

To contact the editor responsible for this story: Emma O’Brien at eobrien6@bloomberg.net

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