The Point72 CEO said there’s a lot of “underemployment” in the country, which could create upward pressure on inflation if economic growth…
Inflation was falling in late 2023, but there were several upside surprises in that data during the first quarter of this year.
Cohen also said the current market rally is not a bubble like 1999's dotcom boom and is instead due in part to investors pricing in future growth from artificial intelligence."The Fed thinks it's eventually going to come down to a 2% inflation rate. ... I think that's going to be hard," Cohen told CNBC's Andrew Ross Sorkin on"
"If growth is too fast, then you start getting constraints on labor and wages go up, and that may be a problem. ... We're in one of these problems where I don't think many people know exactly what is going to happen," Cohen said."I think inflation's been somewhat contained, and I think ultimately it will come down to: is that a true statement or not," Cohen said.
Cohen said that AI is a"really durable theme" that will make an impact on a wide variety of companies.
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