Investors can no longer rely on stocks and other assets to keep logging gains like they used to, according to a top BlackRock strategist.
Powell said there had been a fundamental change to a world economy shaped by supply pressures, rather than driven by demand. The outcome of that supply problem is higher inflation, he argued, and it has important implications for investors making portfolio decisions. Powell noted the Fed has a mandate to bring the rate down to 2%. It came in 6.4% for January, the last reading — moderating to the lowest level in over a year but still off the record 9.1% in June.
He said investors should consider taking a more dynamic approach to their portfolios now and make choices to respond to swings in assets.
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