The Bleakley Advisory Group's Peter Boockvar predicts inflation will be the most widespread in decades.
Arrows pointing outwards
"The levels of refis are at the lowest level since pre-Covid: February 2020," noted Boockvar. "So, we're not getting that stimulative impact from very low rates anymore.", he said significant progress on the Covid-19 vaccine front would ultimately spark sharp demand. As a result, inflation would break out."The Fed knows how to tackle it," he said. "It's just a question of whether they have the guts to do so.
Boockvar doubts the Fed will end quantitative easing or hike interest rates sooner than Wall Street anticipates because of the likely fallout on the stock market and economy. "I'm in the camp that it [inflation] lasts longer than others think," said Boockvar, who suggests higher prices will hit almostDue to inflation pressures, he anticipates the benchmark"That will create its own hurdles for the stock market," Boockvar said. "The stock market has rallied here of late, and it's back to highs because of the pullback in yields."
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