Schwarzman: Inflation Overstated, Causing Fed to Keep Rates Too High
• Inflation is near 2% based on Schwarzman's portfolio companies, lower than CPI • If Fed relies on official CPI numbers, rates could stay high longer than needed • Schwarzman has 50 years experience in finance • He sees inflation is lower than what CPI shows • Rates might be higher for longer if Fed sticks to policy based on CPI numbers