Wall Street bosses are more worried about inflation than the US election

Published On Oct 29, 2024, 1:35 PM

Recent remarks from top financial leaders highlight a growing concern over persistent inflation, regarded as a more pressing issue than the upcoming U.S. presidential election. Notably, BlackRock's CEO Larry Fink expressed fears of embedded inflation, questioning its economic ramifications and suggesting that interest rates might not decline as quickly as traders anticipate. Many Wall Street executives, including those from Citadel, Goldman Sachs, and JPMorgan, affirmed that inflation is more ingrained in the economy, indicating potential challenges ahead. Overall sentiment indicates that rising government expenditures, regardless of the election outcome, may contribute to sustained inflationary pressures, with speculations that further rate cuts may not materialize in the near future.