Nearly 75% of fund managers think the current spike in consumer prices will calm down, one survey found.
As the Federal Reserve embarks on a two-day meeting to set monetary policy, the monthly survey of global fund managers by Bank of America found 72% believed inflation to be transitory.
Fund managers were still bullish on the global economy, though less so, with a net 75% saying they expect the global economy to improve, which is down 9 percentage points from the April survey. Since 1994, the prior peak optimism readings were followed by a 75-basis-point drop in the 10-year Treasury yield.
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