Scaramucci says he thinks inflation is temporary, not long-term.

Inflationary pressures in the global economy are temporary and not a long-term problem, according to hedge fund investor Anthony Scaramucci.

SkyBridge Capital’s founder and managing partner said price increases are associated with supply chain constraints and believe they will be mitigated once the bottleneck is resolved.

“I don’t think inflation is long-term, I think it’s a temporary aftermath of the crisis,” he told CNBC. “Capital Connection” on Wednesday.

In October, US consumer prices rose 6.2%. The biggest jump in over 30 years.

Market experts are divided on whether inflation is temporary or not. Mohamed Ellerian, Allianz Chief Economic Advisor, told CNBC last month: Fed is losing credibility The rise in prices goes beyond the view that it is temporary.

Federal Reserve Board Jerome Powell Last week, the central bank said it used the term to mean that current inflation leaves no permanent mark on the economy.

“I think it’s probably a good time to retire the word and try to explain more clearly what we mean,” he said.

Scaramucci also said the Fed is likely to move slowly in slowing down monthly bond purchases.

He said this was because there was still uncertainty about additional Covid variants, and many in the United States remained unvaccinated, which could lead to a “expansion” of the pandemic.

In addition, there is the power of deflation in the form of technology and oil prices, he added.

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When asked for the transactions he recommends, Scaramucci named the cryptocurrency exchange. Coinbase And software companies MicroStrategy..

“These are two deals that we wouldn’t be able to live without,” he said.

He also mentioned the following cryptocurrency “stagnation”: Bitcoin When Ethereum He expects more institutional investors to buy coins, so both are “well set at the beginning of the year.”

Scaramucci says he thinks inflation is temporary, not long-term.

Source link Scaramucci says he thinks inflation is temporary, not long-term.

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