Billionaire Leon Cooperman, founder of hedge fund firm Omega Advisors.

(Bloomberg)

[Financial Channel/Comprehensive Report] Billionaire and founder of hedge fund company Omega Advisors (Omega Advisors) Cooperman (Leon Cooperman) predicts that the US Federal Reserve (Fed) will hold a meeting on the 21st and 22nd of this month. Rates were raised by another 1 yard (0.25 percentage point) at the policy meeting to calm turmoil engulfing the banking sector.

"Bloomberg" reported that Cooperman pointed out in an interview on Monday (20th) that due to the pressure on the financial system, the market will accept a higher level of inflation, and said that the Fed must stabilize the treasury bond market because of the current huge volatility of bonds, is destabilizing the stock market.

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Cooperman also said that the outbreak of the banking crisis is the result of the irresponsible fiscal and monetary policies of the US central bank over the past 10 years.

Nevertheless, Cooperman believes that U.S. regulators should do everything possible to stabilize the financial system, including supporting U.S. Senator Elizabeth Ann Warren's call for the U.S. Federal Deposit Insurance Corporation (FDIC) to pay more than $250,000 (about NT$76.3 billion). The account provides insurance and requires the bank to fund additional charges.

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