fund manager, Noel winfrey says investors should look past inflation 'wild card'
Updated: Oct 18
Fund Manager, Noel Winfrey of The Midtown Trade Group has underlined his conviction that it's nearly impossible to know where inflation is headed, and said investors shouldn't upend their portfolios in response to the current stream of macro forecasts.
Investors have a great deal riding on the prospects for inflation, since a higher level leads to higher interest rates and lower asset values, the MTG co-chairman said in his interview with Chicago Vault.
But as for whether the present high level of inflation is permanent or transitory, as the Federal Reserve believes, "it's nearly impossible to know the answer," said Winfrey.
"I consider anything anyone says today about inflation in the coming years to be 'opinion or speculation'... or, as I'd say, 'guesswork,'" he said.
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