Druckenmiller sounds the alarm on the Fed causing asset bubbles: At the Open

The Federal Reserve is inviting asset bubbles by keeping monetary policy at emergency levels when the emergency has passed and the long-term risks of bubbles outweigh those of putting the brakes on the economy in 2022, famed investor Stanley Druckenmiller warns.The Fed has implemented "certainly the most radical policy by a longshot that I've seen relative to the economic circumstances," Druckenmiller said on CNBC. "I can't find any period in history where monetary and fiscal policy were this out of step with the economic circumstances."Stock index futures are under pressure this morning following yesterday's selloff. S&P futures (SPX) (SPY) are down 1.3% and Nasdaq 100 futures (NDX.IND) (QQQ), which took the brunt of the selling Monday, are down 2%.In an op-ed in The Wall Street Journal, Druckenmiller and Christian Broda, economist and partner with Druckenmiller at Duquesne Family Office, argue that "high stock-market valuations, the crypto craze, and the frenzy over special-purpose acquisition companies,