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'Big Short' investor Michael Burry slams the Fed for its trading scandal, warns of inflation using Costco, and deletes his Twitter profile again

'Big Short' investor Michael Burry slams the Fed for its trading scandal, warns of inflation using Costco, and deletes his Twitter profile again

Michael Burry.
Bloomberg Risk Takers




Michael Burry said the Federal Reserve has lost all credibility following its trading scandal.




"The Big Short" investor warned of stubborn inflation, citing Costco's complaints of rising costs.




Burry deleted his Twitter profile once again without explanation.




See more stories on Insider's business page.


"The Big Short" investor Michael Burry blasted the Federal Reserve for its trading scandal, underlined the inflation threat using Costco, and deleted his Twitter account yet again this week."Bond & stock markets depend on a Fed stripped of all credibility," Burry said in a now-deleted tweet. He cited the central bank's mismanagement of the global financial crisis, its decision to cut interest rates three times in 2019, and the revelation this month that two of its regional presidents, Robert Kaplan and Eric Rosengren, traded stocks and other securities last year.The Scion Asset Management chief attached a screenshot of Kaplan's latest financial-disclosure form, which showed the official traded millions of dollars' worth of Tesla, Chevron, Johnson & Johnson, and other stocks in 2020. Both Kaplan and Rosengren announced their resignations this week, the latter citing health issues.Burry - who has warned of a huge market bubble and predicted the "mother of all crashes" is coming in recent months - also rang the inflation alarm. "Inflationary mindset is not something you'd want to short," he tweeted. "Ask Costco."
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