Blackstone’s CFO Chae eyes soft landing as inflation cooling faster than expected
)'s Chief Financial Officer Michael Chae said Wednesday he was"cautiously optimistic" on a soft landing as inflation is likely cooling faster than expected.
A recession forecast isn't one shared by many CEOs running Blackstone's portfolio companies, with about 14% predicting a recession in the next 12 months, Chae said, citing a Blackstone survey conducted in June. The Blackstone finance chief believes, however, that inflation is slowing faster than expected. The August CPI data didn't take into account the latest slowdown in housing inflation as shelter is a lagging component in the CPI.
As the debate about whether the Fed will cut by 25 basis points or 50 bps raging on the Blackstone finance chief instead said the destination of the 10-year Treasury rate was even more important to investors.
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