Central Banks must choose to live with higher inflation or to slow economy down while younger generation learns to live without

Rev 6:6 NAS And I heard something like a voice in the center of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not damage the oil and the wine.”

Important Takeaways:

  • Inflation will clobber “entitled generation” of consumers, BlackRock president says
  • It’s been at least 40 years since inflation was as high as it is today, and that means an entire generation of “entitled” consumers is about to learn some very rude lessons about life and money, according to BlackRock President Rob Kapito.
  • “For the first time, this generation is going to go into a store and not be able to get what they want,” Kapito said, according to Bloomberg News.
  • “And we have a very entitled generation that has never had to sacrifice,” he said, according to the outlet.
  • Fink wrote: “Central banks must choose whether to live with higher inflation or slow economic activity and employment to lower inflation quickly.”

Read the original article by clicking here.

Leave a Reply