PAUL SINGER: 'It's a very dangerous time in the global economy'

A prominent conservative hedge fund billionaire is blaming central bankers for the slow economy.

Paul Singer, founder of hedge fund Elliott Management, said policy makers need to consider fiscal policies to spur the economy and argued that they have created a risky environment for investors.

"Central bankers say growth hasn't really picked up, but in the absence of what we're doing, it would have been a lot worse," Singer said at the CNBC Institutional Investor Delivering Alpha conference in New York on Tuesday. "I don't think that's right."

Singer was referring to the low interest rate policies enacted by central banks around the world in the wake of the 2008 financial crisis.

"Eight years of ever declining rates and ever increasing radicalism in other monetary policies have not created a sustainable, accelerating uptick in growth," Singer added. "What they have done is created a tremendous increase in hidden risk. Risk that investors don't exactly know or have faced about their holdings."

"I think it's a very dangerous time in the global economy and global financial markets," he added.

Instead, government policy makers should have focus on changing policies in tax, regulation, trade and education, he said, though he didn't go into detail about such policies.

Singer is a big Republican donor but hasn't completely backed GOP candidate Donald Trump, and said earlier this year that Trump would create a depression.

Singer also said the bond markets are facing a bubble situation, and recommended that investors sell their 10-, 20- and 30-year bonds.

"These are not safe havens," he said. "In fact, there's a tremendous amount of risk."

He has also recommended holding gold.