Blackstone’s Gray Predicts Extended Period of Elevated Rates
- Gray says market too optimistic predicting a weaker economy
- Gray says the world is in ‘much better spot’ than in 2008
Jonathan Gray
Photographer: Simon Dawson/BloombergThis article is for subscribers only.
Blackstone Inc.’s Jonathan Gray expects the US Federal Reserve will raise interest rates to 5.25% to 5.5% and will then hold there an extended period of time, despite emerging signs of slowing inflation.
The Federal Reserve is likely to take rates up to that level “for a while,” the president of the world’s biggest alternative asset manager said at an event in Hong Kong. The market is “too optimistic” over the economy weakening, he said.