Guggenheim’s Minerd Says U.S. Can Add Jobs Without Inflation
- Manager of $250 billion says unemployment rate can fall more
- Fed may let inflation run as high as 3% compared with 2% goal
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There’s still a lot of room to grow in the U.S. job market without running short of workers or fueling wage inflation, according to Scott Minerd, who manages $250 billion for Guggenheim Partners.
“Full employment’s a lot lower than people think,” Minerd, Guggenheim’s global chief investment officer, said during a Monday telephone interview from Los Angeles. “It’s probably below 4 percent.”