While some U.S. economic data suggest the economy is ready for normalizing monetary policy, Marc Faber said Thursday the Fed will have to unleash another round of quantitative easing.
"When I look at the whole financial sector … I feel like [I'm] on the Titanic. We're fighting about deck chairs, [meaning] which assets are performing best and we're fighting over the best tables in the ballroom, but I think it's best to find your safety boat and ladder because I think the financial sector will implode one day," the editor and publisher of the Gloom, Boom & Doom Report said on CNBC's "Squawk Box."
Faber made his remarks a day after the Federal Reserve's Beige Book said economic activity has expanded at a "modest" to "moderate" pace over the past few months.
"All the central banks are so deep in the mud that, in my view, they will continue to essentially buy assets," Faber said.