Renowned economist Mohamed El-Erian believes inflation will come down by the end of the year but “will be sticky.” “I’m looking for a core CPI in the 4.5% to 5.5% range, so well above the 2% target of the Fed,” the chief economic adviser of Allianz said on Influencers with Andy Serwer (video above). The latest monthly Consumer Price Index (CPI) reading came in at 9.1%, the highest level since November 1981. The reading for July CPI will be released on Wednesday. “What I’m most… Source link
Read More »Bitcoin’s Potential as a Collateral Class
Bloomberg Warren Buffett Sees a ‘Red Hot’ Economy With Creeping Inflation (Bloomberg) — Warren Buffett delivered a clear verdict Saturday on the state of the U.S. economy as it emerges from the pandemic: red hot.“It’s almost a buying frenzy,” the Berkshire Hathaway Inc. chief executive officer said during the conglomerate’s annual meeting, which was held virtually from Los Angeles. “People have money in their pocket and they’re paying higher prices,” he said.Buffett… Source link
Read More »