While Fed boss Jerome Powell has been telling Congress that inflation is transitory and there is no need for the Fed to change policy, BlackRock’s Larry Fink was telling Reuters that inflation is transitory and the Fed should indeed change policy. Since BlackRock is the real boss, stay tuned to see what happens.
“I am not calling for 1970’s inflation, but I just think we are going to have above 2% inflation ... probably closer to 3.5% to 4.0%,” Fink said in an interview with Reuters. “Does that mean the Federal Reserve will have to change policy? I think so,” said Fink.
