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Silver Report Uncut
Jun 3, 2021
Speaking at a virtual event hosted by Deutsche Bank, Blackrock CEO Larry Fink who manages over $9 trillion, countered talk that soaring prices are transitory. He also added that investors may be underestimating the potential for a spike in inflation.
He said “Most people haven’t had a forty-plus year career, and they’ve only seen declining inflation over the last 30-plus years. So this is going to be a pretty big shock”
he began his career at First Boston Corp. in 1976, in during runaway US inflation, with the Consumer Price Index hitting a high of 14.8% in March 1980, and forcing Volcker to hike rates as high as 20%.
the Fed has vowed to keep rates at zero for at least another two years. If the Fed were to reconsider that, it would be incompatible with the massive fiscal stimulus unleashed by the US, Fink said adding
“That would be pretty odd, raising interest rates at the same time we do this giant fiscal stimulus,”
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