Bridgewater’s Prince Says More Jobs Must Vanish to Tame Inflation
- Prince says more layoffs are needed to tackle inflation
- A decline in the economy will be ‘the next shoe to drop’
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Bob Prince, who helps manage the world’s largest hedge fund, said we’re seeing the return of the boom-bust cycle and more people need to lose their jobs before inflation will be brought under control.
“It is hard to say whether we are done with the tightening or we will have another tightening,” Prince, the co-chief investment officer of Bridgewater Associates, said in an interview with Bloomberg TV at the World Economic Forum in Davos, Switzerland. “What we can say is that the next shoe to drop has to be a decline in the economy, in particular, a contraction in the labor markets.”