Warren Buffet supports Ben Bernanke

Billionaire investor Warren Buffett has compared the Federal Reserve to a hedge fund, as he supported keeping Ben Bernanke in charge of the US central bank. The 82-year-old, who has led Berkshire Hathaway for more than four decades, hailed the Fed's ability to make money from bond purchases as a result of quantitative easing, which in five years has more than tripled its balance sheet to more than $3.6trn. "The Fed is the greatest hedge-fund in history," he said, according to The Daily Telegraph.