Billionaire Ken Griffin Warns Inflation Could Persist for Decades Due to Deglobalization and Government Overspending
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Billionaire Ken Griffin said inflation could persist for decades due to deglobalization trends like the Russia-Ukraine and Israel-Hamas wars.
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Griffin warned the U.S. government's pandemic spending binge has led to a $33 trillion deficit and fiscal irresponsibility.
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Surging inflation will increase the cost of funding the U.S. deficit, Griffin said.
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Supply chain disruptions and European countries losing Russian natural gas access are fueling higher baseline inflation, per Griffin.
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Despite payroll gains, Griffin said U.S. consumers deep down feel "something is not quite right" with the economy.