Rick Rieder, Chief Investment Officer of Global Fixed Income at BlackRock, and Jan Hatzius, Goldman Sachs’ chief economist, discuss the possible trajectories of inflation and growth outlooks for the U.S. and other markets. Tony Pasquariello, Global Head of Hedge Fund Coverage, Global Markets Division, hosts this session.
Rick Rieder, CIO of Global Fixed Income at BlackRock, on employment trends in the U.S.:
I think wages are going to be high for a long time. I think we’re going to hit historic levels of employment in this country, and I don’t think there’s enough humans around for the jobs that are available, particularly in the skill sets – I mean, look at the Amazons, the Walmarts, the biotech hiring, the tech hiring for cloud, etc. It is extraordinary.
Goldman Sachs Chief Economist Jan Hatzius on the trajectory of inflation:
Your bias should be that current data don’t necessarily provide a great deal of guidance for where things are going to be a year from now, and I think there are good reasons to think that we’ll come down very, very substantially on these inflation numbers.
This episode was recorded on October 26th, 2021.