Elliott Management Corp Founder Paul Singer stepped up his criticism of the unprecedented monetary stimulus unleashed by the Federal Reserve and other major central banks in Europe and Asia in the wake of the financial crisis, arguing that ballooning asset valuations and consumer debt pose even greater risks to the economy than they did back in 2008.

Singer, who discussed his views with David Rubenstein during an appearance on “The David Rubenstein Show,” said he doesn’t believe the market’s confidence in central bankers is justified. He also criticized the Obama administration’s “growth suppressive” fiscal policies.

I’m very concerned about where we are in terms of the financial system, the American economy, the global economy. After nine years of what I would regard as monetary extremism, combined with growth-suppressive fiscal policies regulatory and tax, it’s created a distorted recovery and its partially responsible for this exacerbation of inequality and the incomplete recovery has caused this middle-class stress and edginess around the world that has led to fringe policies and fringe thoughts – you know populism.

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