economy
February 11, 2026
David Einhorn says the Fed will cut 'substantially more' than two times. So he's betting big on gold
Greenlight Capital's David Einhorn anticipates the Federal Reserve will issue more interest rate cuts than what's being anticipated.
TL;DR
- David Einhorn predicts more Federal Reserve interest rate cuts than currently anticipated by the market.
- He believes the market's interpretation of the recent jobs report as a reason not to cut rates is incorrect.
- Einhorn suggests that a new Fed chair nominee could persuade the committee to cut rates multiple times, even if the economy is strong.
- He has increased confidence in his gold investments due to these expectations.
- Gold has seen significant surges in recent years, partly due to geopolitical tensions, unstable trade policy, and its adoption as a reserve asset by central banks.
- Einhorn also highlights the instability of U.S. trade policy and the nonsensical relationship between fiscal and monetary policies as reasons to own gold.
- He is also betting on lower short-term rates by being long futures on SOFR.
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