"The easiest job in the world"! Big short seller: The United States does not need the Federal Reserve, the Treasury should take over!

Michael Burry, the “Big Short” investor famous for shorting during the 2008 subprime crisis, has once again made shocking statements, this time targeting the Federal Reserve. He believes the Federal Reserve is an unnecessary institution whose functions can be fully taken over by the Treasury Department, as he sees chairing the Fed as “the easiest job in the world.”

Having recently returned to the public eye and taken a high-profile short position against tech stocks, Burry’s latest remarks have undoubtedly fueled the fierce market debate over the Fed’s future policy path. In a podcast interview with writer Michael Lewis on Tuesday, Burry warned that there is currently almost no reason to cut interest rates, and any easing measures could “kill” savers and fixed income investors.

He stated that monetary policy could be guided by the US Treasury and believes the roles of these two agencies are “already almost identical.” This radical view comes at a time when there is heightened market focus on the Fed’s independence and concerns about how future political changes might impact it, sparking investor reflection on the long-term stability of US monetary policy framework.

Burry’s characterization of the Fed as an “easy” job echoes past remarks by Trump, who previously described the chair of the Federal Reserve as “the easiest job in the world”—claiming they spent 29 out of 30 days golfing each month.

“The Big Short”: The Fed Has Caused a Century of Harm

In the podcast, when asked about his view on the Fed’s independence, Burry bluntly stated that he has a “sick view” of it. He believes that the central bank has caused a great deal of harm over the past century and hinted that its demise could be connected to political intervention.

Burry speculated that if Trump starts exerting more control over the Fed, it could signal “the end of the Fed.” He further explained:

“Because if he takes over the Fed, then everyone will hate it, not just me.”

Burry directly criticized the Fed’s current policy inclination. He believes that despite signs of inflationary pressure reemerging, the Fed still seems poised to switch to easing at its policy meeting in December.

“We don’t need it,” Burry added when talking about the Federal Reserve. “For example, why are they cutting rates? There’s really no reason to cut rates now.” He warned that lowering interest rates would “kill” savers and fixed income investors in the economy, directly impacting those who rely on interest income.

Treasury Takeover: The Two Agencies Are “Almost the Same”

Burry also believes that the roles of the Fed and the Treasury are largely interchangeable:

“I mean, they are almost the same agency now.”

He explained that the Fed sets short-term interest rates and acts as a buyer of government debt, while the Treasury issues bonds to finance the government. In his view, these functions are not separated by insurmountable boundaries. He concluded:

“I don’t think the Fed does anything particularly helpful. I think it’s the easiest job in the world.”

Burry’s remarks come at a time when he has returned from years of social media silence and become unusually active. The investor, who became famous for successfully shorting the US housing market ahead of the 2008 financial crisis, has recently issued multiple market warnings.

Since returning to the spotlight, Burry has repeatedly warned of bubbles in US stocks, disclosed new short positions against tech companies like NVIDIA and Palantir, and launched a new paid Substack column. His sharp criticism of the Fed can be seen as the latest in his recent string of contrarian market views, further cementing his reputation as Wall Street’s most famous “Big Short.”

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