US Growth Slows While Inflation Holds Firm
The US economy grew at a slower pace in the first quarter while price pressures held firm, further complicating the outlook for central banks.
2021 ended with fiscal and monetary stimulus in the rear-view mirror and interest rates set to rise modestly. However, new challenges in the new year have put monetary policymakers in a corner. Interest rates are now expected to rise more aggressively to counter rates of inflation not seen since the early 1980s. However, aggressive rate hikes alongside a global energy crisis could lead to a recession. How are leading market participants thinking about these challenging issues? And what is the role of capital markets in responding to geopolitical crises?
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The US economy grew at a slower pace in the first quarter while price pressures held firm, further complicating the outlook for central banks.
David Hunt, President & CEO of PGIM, joined Bloomberg Surveillance for a conversation about the wide range of opportunities and challenges in financial markets.
Persistent inflation in March put another dent in the case for rate cuts by the Federal Reserve.