Blackstone’s Gray Sees Growth Slowing in Inflation Fight
- Jon Gray speaks at Macquarie Australia Conference in Sydney
- Central bankers will be slow to cut rates, Gray says
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Blackstone Inc. President Jon Gray said economic growth will slow as stubborn inflation weighs on the Federal Reserve’s ability to begin lowering borrowing costs.
“We see a deceleration of growth,” Gray said at the Macquarie Australia Conference in Sydney on Thursday. “Central banks will be slow on the cutting of rates, because they don’t want to see a rise of inflation,” he said. “The Fed will be patient, they’ll have the opportunity to cut once this year,” he added.