Economics
Inflation Above 2% Is ‘Just Fine,’ BNY Mellon’s Keating Says
- Markets have done well with 3%-4% price growth, she says
- Keating sees risk of U.S. recession this year as ‘pretty low’
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Everyone’s focused on curbing inflation, but U.S. markets can still perform well even if the rate stays above the Federal Reserve’s target of 2%, said BNY Mellon’s Catherine Keating.
“For most of our investing lifetime, we had 3% to 4% inflation a year, and markets did just fine,” the firm’s chief executive officer of investor solutions and wealth management said Thursday at the Bloomberg Wealth Summit in New York.