Investing
Carlyle Co-Founder David Rubenstein Says ‘We’re Due for a Correction’
- He predicts inflation to stabilize at 3% to 4% this year
- Rubenstein says rising prices ‘a cost we have to live with’
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U.S. equity markets are primed for a correction as the Federal Reserve prepares to boost rates and higher inflation becomes a reality for some time, Carlyle Group Inc. co-founder David Rubenstein said.
“We’re due for a correction,” Rubenstein said Tuesday in an interview with Sonali Basak at the Bloomberg Year Ahead Summit in New York. “The markets have been very ebullient for quite some time. We’ve basically been having free money.”