Economics

U.S. Inflation Is Becoming More Persistent, Blackstone’s Jon Gray Says

Blackstone’s Gray Says U.S. Inflation Becoming More Pervasive

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By Heather Perlberg

October 21, 2021 at 12:58 PM UTC

This article is for subscribers only.

Inflation is “definitely becoming” more persistent and pervasive than expectations, according to Blackstone Inc. President Jonathan Gray.

The increase in money supply as the U.S. government responded to the Covid-19 pandemic is one reason, he said in a Bloomberg Television interview on Thursday. Structural shortages on the supply side are contributing to the issue, he added.