Posted on 07/18/2021 7:30:42 PM PDT by E. Pluribus Unum
Two of Wall Street’s top CEOs have differing views on inflation, but both diverge from the Federal Reserve’s predictions that price increases are transitory and will fade once supply shocks and other pressures ease.
Larry Fink, chairman and CEO of BlackRock, the world’s largest asset manager, is convinced that inflation isn’t temporary, as he believes deglobalization will lead to “systematically more inflation” in the future.
“It is my view that inflation is going to be more systematical,” Fink told CNBC on July 14. “I believe it is a fundamental, foundational change in how we navigate economic policy.”
The focus that shifted from globalization to national security during the Trump administration will continue, according to Fink.
“Post-World War II, our economic policy was based on consumerism,” he said, adding that this policy enabled Americans to buy cheaper goods.
“In the last five years, we’ve navigated away from that foundational belief, and now we are saying jobs are more important than consumerism,” Fink said.
He noted that Washington is now focusing more on national security matters, as well as bringing back manufacturing.
The Fed’s inflation projection in June rose sharply to 3.4 percent for this year, up from the 2.4 percent projected earlier. But Fed officials expect inflation to return to 2.1 percent next year and remain close to its long-term inflation target of 2 percent, indicating that inflationary pressures will be transitory.
In an interview with CBS’s “60 Minutes” in April, Fed Chair Jerome Powell argued that it’s hard to see inflation in a country “when wages can move overseas.”
“The globalization of the economy and technology have enabled manufacturing to take place all around the world. It’s very hard for people in wealthy countries to raise prices or to raise wages,” he said, suggesting that this trend will continue.
(Excerpt) Read more at theepochtimes.com ...
Let me be the first to predict a hockey-stick inflation graph.
“Let me be the first to predict a hockey-stick inflation graph.”
At least that one will not involve altered data produced by folks to whom math was ... not something they’d want to mention ona resume.
Who’s running things Jill?
You F-ing idiot.
“it’s hard to see inflation in a country “when wages can move overseas.”
Our country is being run by morons.
L
Bidenflation
“...Top Wall Street Executives...” Apparently, to be a “top wall street executive” you don’t have to be very smart. Hell! When they helped to steal the election for biden (AND they damned well did!) I could have told them what would follow. But, now they act like they are surprised.
Well these damn fools supported the theft of the 2020 election. Did these damn fool traitors really think that O’Biden/Democrats could run a country during this China Bio Attack?
In the late 70’s and early 80’s I was Lane County OR’s only investment officer. I can remember buying Federal Farm Credit paper for one week at a 15% rate. I made about $9,000,000 in interest annually for a few years, which actually mean the dollar lost at least that much in purchasing in twelve months.
The money supply has been growing at 38% per year. The market sooner or later will catch up to this. Buy Real stuff now before money itself becomes even more of a fiction.
“...be more systematical,” Fink said. Balderdash and gibberish. Fink is too confused to be honest about economics.
Everyone knows that usury weakens credit.
Regards,
Don’t blame nationalism for inflation when you oligopolists print and spend extra tens of trillions.
You are too late to be the first.
Some financial guru on Steve Turley’s youtube video said inflation is actually running at about 20%. I believe it. You will spend about $7 for a specialty burger at Wendy’s. That is ridiculous.
convinced that inflation isn’t temporary, as he believes ****deglobalization**** will lead to “systematically more inflation”.
Agenda located one world order club member named.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.