Buffett calls Federal Reserve the greatest hedge fund ever

The Fed is the greatest hedge fund in history. It’s generating $80 billion or $90 billion a year probably in revenue for the U.S. government. And that wasn’t the case a few years back. The Fed is under no pressure, none whatsoever to have to deleverage. So it can pick its time, and if you have somebody wise there -- and I think Bernanke is wise, and I certainly expect his successor to be -- it can be handled. But it is something that’s never quite been done on this scale. It will be interesting to watch.

~ Warren Buffett, Bloomberg, September 20, 2013