SONO - Greenlight's David Einhorn: Fed doesn't have the stomach to fight inflation

Famed hedge-fund manager David Einhorn said Wednesday that the Federal Reserve "doesn't have the stomach to fight inflation" because policymakers are afraid to trigger a market correction or a recession. "They are really left with bad choices," he told CNBC, arguing that the U.S. central bank has waited too long to curtail inflation. Einhorn predicted that the Fed will choose to direct its policy towards keeping interest rates under control, allowing the dollar to depreciate via inflation instead. Einhorn, the founder and president of Greenlight Capital, added that he's positioned his portfolio to weather inflation. The fund has also targeted smaller-cap stocks with low valuations. That includes a position in Green Brick Partners (NASDAQ:GRBK), a homebuilding and land-development company. The stock represents Greenlight's largest holding, and Einhorn serves as the company's chairman. Greenlight has also added to its position in Sonos (NASDAQ:SONO), which Einhorn says can extract additional value from

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Greenlight's David Einhorn: Fed doesn't have the stomach to fight inflation