It’s premature to believe inflation is going to peak and cool down soon, Goldman’s global stock chief says
It''s premature to say inflation is near a peak and pressure will ease on the Federal Reserve, Peter Oppenheimer said. The Goldman Sachs strategist contrasted the inflation rate with the "lived reality" of rising prices. But he added: "I don''t think a deep recession is being priced in yet." It''s too early to decide that red-hot US inflation is close to a peak that could prompt the Federal Reserve to pivot away from tightening, according to Goldman Sachs'' chief global equity strategist. Speaking to Bloomberg TV on Monday , Peter Oppenheimer said: "It''s premature to believe inflation is going to come down quickly, or the pressure has eased for the Federal Reserve and other central banks to continue to tighten." The Fed is aggressively hiking interest rates, which it kicked off with a 75-basis point rate increase in June, to try to combat inflation running at 40-year highs. Uncertainty over whether high levels of inflation will become entrenched in the US and how far the central bank will go to tame it has helped drive losses for stocks in recent weeks.
It’s premature to believe inflation is going to peak and cool down soon, Goldman’s global stock chief says
It''s premature to say inflation is near a peak and pressure will ease on the Federal Reserve, Peter Oppenheimer said. The Goldman Sachs strategist contrasted the inflation rate with the "lived reality" of rising prices. But he added: "I don''t think a deep recession is being priced in yet." It''s too early to decide that red-hot US inflation is close to a peak that could prompt the Federal Reserve to pivot away from tightening, according to Goldman Sachs'' chief global equity strategist. Speaking to Bloomberg TV on Monday , Peter Oppenheimer said: "It''s premature to believe inflation is going to come down quickly, or the pressure has eased for the Federal Reserve and other central banks to continue to tighten." The Fed is aggressively hiking interest rates, which it kicked off with a 75-basis point rate increase in June, to try to combat inflation running at 40-year highs. Uncertainty over whether high levels of inflation will become entrenched in the US and how far the central bank will go to tame it has helped drive losses for stocks in recent weeks.