Inflation pressures in the economy today are temporary and are not long-term problems, according to hedge fund investor Anthony Scaramucci.
last week said the central bank uses the term to mean that the current increase in prices won't leave a permanent mark on the economy.
"I think it's probably a good time to retire that word and try to explain more clearly what we mean," he said. Scaramucci also said the Fed is likely to move slowly with regard to reducing the pace of its monthly bond purchases. That's in part because there are still uncertainties about additional Covid variants, he said, noting that many in the U.S. remain unvaccinated and that could lead to an "elongation" of the pandemic.Stock picks and investing trends from CNBC Pro:
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