today. Higher rates typically cool price growth because they raise borrowing costs and encourage saving over spending. Yet they can also pull down asset prices, temper demand, and fuel unemployment, increasing the risk of a recession.
"Maybe we're going to put 2 million people out of work, but I don't know any way around dealing with a problem of inflation, and the tragedy of what comes from inflation," Langone said. He labeled it"the most regressive of all taxes ever," as the poorest people suffer the most from price increases. Langone hammered home the need to"snap the back of inflation." He called on the Fed to raise rates more aggressively until the threat recedes., and recommended investing in high-quality business for the long run. He noted his average holding period is 41 years, and touted Home Depot, Eli Lilly, and Yum Brands among his core positions.
"Bad times come and bad times go," he said."My advice to people is own great companies, great managements, strong balance sheets, a history of periodically raising dividends — and go fishing."
Greedy rich guy who's long and bleeding money wants FED to return the punchbowl. Nothing to see here.
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