More than 70% of fund managers say inflation will be transitory

BusinessInsider/Harry Robertson/6-15-2021

“Several of the factors pushing up inflation recently are likely to fade in coming months, including energy prices. We agree with the [US Federal Reserve] that elevated inflation pressures will prove short-lived,” he said. “We do not expect a more sustained disruption to equity markets.” – Mark Haefele, chief investment officer at UBS Wealth Management

USAGOLD note: This is probably one of the reasons the gold rally stalled at just over the $1900 mark, i.e., 70%  of fund managers buying into the Fed’s opinion that any inflation we get will be transitory. Though Business Insider waters down the fact that 64% of respondents to the survey  expect higher inflation over the next 12 months (as opposed to 83% a month earlier), it is still a very high number.

The post Today’s top gold news & opinion first appeared on Today’s top gold news and opinion.