Billionaire investor says there’s no real exit from money printing

Key Highlights

• Related: Treasury Secretary Bessent reveals plan to tackle soaring $38T debt Policy pressures shaping markets, not other way around Hayes framed his argument around politics rather than crypto fundamentals.
• “All democratically elected politicians are at all times solely focused on re-election,” Hayes wrote, adding that “the only issue that the median voter cares about is the economy.” He argued that economic growth, not fiscal restraint, dominates decision-making in Washington, especially heading into election cycles.
• That view aligns with recent policy moves.
• In December, the US Federal Reserve cut interest rates and restarted balance-sheet expansion, effectively reviving quantitative easing through monthly Treasury purchases.
• Related: Analyst warns Fed’s $40B monthly Treasury buys could reprice crypto Hayes said this environment leaves little room for genuine tightening, as slowing growth or rising unemployment quickly becomes politically costly.