UBS CEO Sergio Ermotti in the course of the annual conferences of the IMF and World Financial institution in Washington, DC, onOct. 23, 2024.
Bloomberg | Bloomberg | Getty Photographs
An anticipated decline in rates of interest may very well be stalled if the possible tariffs of Donald Trump’s second White Home administration bleed into markets and shore up inflation, UBS CEO Sergio Ermotti warned Tuesday.
“One thing that I have been saying for some time, inflation is way more sticky than now we have been saying,” he advised CNBC’s Andrew Ross Sorkin. “The [truth] of the matter is that we have to see additionally how tariffs will play a job in inflation.”
“Tariffs will most likely probably not assist inflation to return down. And subsequently I do not see charges coming down as quick as individuals consider, he mentioned.
This breaking information story is being up to date.
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