The current tenure of Janet Yellen as Chair of the U.S. Federal Reserve will be looked upon with the same disdain as one of her predecessors, Alan Greenspan, according to a strategist at Societe Generale.
Albert Edwards, the notoriously bearish analyst at the French bank, released a note on Thursday slamming the Fed's decision to raise rates on Wednesday, calling it "too late" to avoid a major financial shock for the U.S. economy.
"I have never sought to hold back in my criticism of what I view as the serial incompetence of the Fed, both in the run-up and aftermath of the 2008 global financial crisis. In 2005 I dubbed Alan Greenspan an 'economic war criminal' and called on him to be removed from office," he said in the note. Greenspan led the central bank in the easy money era ahead of the burst of the U.S. housing bubble in the mid-2000s.