{"id":953758,"date":"2021-11-02T12:59:39","date_gmt":"2021-11-02T16:59:39","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=953758"},"modified":"2021-11-02T12:59:44","modified_gmt":"2021-11-02T16:59:44","slug":"there-will-be-a-crisis-4-business-leaders-sounding-the-alarm-over-inflation","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/there-will-be-a-crisis-4-business-leaders-sounding-the-alarm-over-inflation\/","title":{"rendered":"\u2018There Will Be A Crisis\u2019: 4 Business Leaders Sounding The Alarm Over Inflation"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fthere-will-be-a-crisis-4-business-leaders-sounding-the-alarm-over-inflation%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=953758&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Inflation in the United States is reaching record levels \u2014 and Americans are starting to notice.<\/p>\n<p>In essence, <a href=\"https:\/\/www.dailywire.com\/news\/heres-how-inflation-hurts-americans-pocketbooks\">inflation<\/a> is the erosion of a currency\u2019s purchasing power over time. If, for example, inflation remains at 2% for a year, then the value of each dollar \u2014 whether new earnings or previous savings \u2014 drops in value by 2% over that same period.<\/p>\n<p>While the Federal Reserve has pegged its long-term inflation target at 2%, the United States economy has witnessed inflation rates well above the official benchmark since March 2021. For three of the past four months, inflation has remained at roughly 5.4%.<\/p>\n<p>Higher-than-usual inflation has played a role in fading consumer optimism, leading some analysts to <a href=\"https:\/\/www.dailywire.com\/news\/economists-troubling-consumer-sentiment-data-point-to-looming-recession\">worry<\/a> about a looming recession. Likewise, America\u2019s business leaders \u2014 regardless of their politics \u2014 are sounding the alarm over rising price levels.<\/p>\n<p>Jamie Dimon \u2014 JPMorgan Chase<\/p>\n<p>Jamie Dimon \u2014 the longtime chief executive of JPMorgan Chase \u2014 <a href=\"https:\/\/www.dailywire.com\/news\/fears-of-inflation-hit-highest-levels-on-record-chase-ceo-warns-very-good-chance-its-here-to-stay\">indicated<\/a> that high inflation will likely extend beyond the near term.<\/p>\n<p>Beyond his leadership of the investment banking world, Dimon is the Chairman of The Business Roundtable and formerly served as a board member of the Federal Reserve Bank of New York. He told CNBC that JPMorgan Chase \u2014 the nation\u2019s largest bank by assets \u2014 foresees a sustained rise in price levels.<\/p>\n<p>\u201c[Our bank has] a lot of cash and capability and we\u2019re going to be very patient, because I think you have a very good chance inflation will be more than transitory,\u201d he said.&nbsp;<\/p>\n<p>\u201cIf you look at our balance sheet, we have $500 billion in cash, we\u2019ve actually been effectively stockpiling more and more cash waiting for opportunities to invest at higher rates. I do expect to see higher rates and more inflation, and we\u2019re prepared for that.\u201d<\/p>\n<p>Bill Ackman \u2014 Pershing Square Capital<\/p>\n<p>Bill Ackman \u2014 the founder and leader of Pershing Square Capital Management \u2014 <a href=\"https:\/\/www.dailywire.com\/news\/top-hedge-fund-ceo-calls-for-fed-to-hit-brakes-on-inflation\">said<\/a> that the Federal Reserve \u201cshould taper immediately and begin raising rates as soon as possible.\u201d<\/p>\n<p>With a $3.3 billion <a href=\"https:\/\/www.forbes.com\/profile\/william-ackman\/?sh=155e54f9298d\">net worth<\/a>, Ackman is known for deals involving firms like Wendy\u2019s International, Tim Hortons, and Target Corporation. Ackman told the Federal Reserve Bank of New York that inflationary pressures pose a risk to economic stability.<\/p>\n<p>\u201cWe are continuing to dance while the music is playing, and it is time to turn down the music and settle down,\u201d Ackman explained, adding that his firm put money \u201cwhere our mouth is in hedging our exposure to an upward<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Inflation in the United States is reaching record levels \u2014 and Americans are starting to notice.In essence, inflation is the erosion of a currency\u2019s purchasing power over time. If, for example, inflation remains at 2% for a year, then the value of each dollar \u2014 whether new earnings or previous savings \u2014 drops in value by 2% over that same period.While the Federal Reserve has pegged its long-term inflation target at 2%, the United States economy has witnessed inflation rates well above the official benchmark since March 2021. For three of the past four months, inflation has remained at roughly 5.4%.Higher-than-usual inflation has played a role in fading consumer optimism, leading some analysts to worry about a looming recession. Likewise, America\u2019s business leaders \u2014 regardless of their politics \u2014 are sounding the alarm over rising price levels.Jamie Dimon \u2014 JPMorgan ChaseJamie Dimon \u2014 the longtime chief executive of JPMorgan Chase \u2014 indicated that high inflation will likely extend beyond the near term.Beyond his leadership of the investment banking world, Dimon is the Chairman of The Business Roundtable and formerly served as a board member of the Federal Reserve Bank of New York. He told CNBC that JPMorgan Chase \u2014 the nation\u2019s largest bank by assets \u2014 foresees a sustained rise in price levels.\u201c[Our bank has] a lot of cash and capability and we\u2019re going to be very patient, because I think you have a very good chance inflation will be more than transitory,\u201d he said.\u00a0\u201cIf you look at our balance sheet, we have $500 billion in cash, we\u2019ve actually been effectively stockpiling more and more cash waiting for opportunities to invest at higher rates. I do expect to see higher rates and more inflation, and we\u2019re prepared for that.\u201dBill Ackman \u2014 Pershing Square CapitalBill Ackman \u2014 the founder and leader of Pershing Square Capital Management \u2014 said that the Federal Reserve \u201cshould taper immediately and begin raising rates as soon as possible.\u201dWith a $3.3 billion net worth, Ackman is known for deals involving firms like Wendy\u2019s International, Tim Hortons, and Target Corporation. Ackman told the Federal Reserve Bank of New York that inflationary pressures pose a risk to economic stability.\u201cWe are continuing to dance while the music is playing, and it is time to turn down the music and settle down,\u201d Ackman explained, adding that his firm put money \u201cwhere our mouth is in hedging our exposure to an upward move in rates, as we believe that a rise in rates could negatively impact our long-only equity portfolio.\u201dA recent Pershing Square presentation to central bankers notes that the economy has made encouraging progress in the months since COVID-19 \u2014 largely because of $5.1 trillion in government stimulus spending. In addition to an inflation rate far above normal levels, there are 2.8 million more available jobs than workers willing to take them.\u201cA \u2018wait and see\u2019 approach to raising interest rates creates significant risks given the substantial progress to date on employment and inflation combined with the unprecedented economic backdrop,\u201d the report argues.Carl Icahn \u2014 Icahn EnterprisesCarl Icahn \u2014 the founder of Icahn Enterprises and a longtime rival of Ackman \u2014 likewise warned that the United States economy will experience a crisis due to rising inflation.Icahn, who has a net worth of $22 billion and worked as Special Advisor to the President on Regulatory Reform during the Trump administration, warned of an economic fallout associated with rising prices.\u201cIn the long run we are certainly going to hit the wall,\u201d Icahn said in an interview with CNBC. \u201cI really think there will be a crisis the way we are going, the way we are printing money, the way we are going into inflation. If you look around you, you see inflation all around you and I don\u2019t know how you deal with that in the long term.\u201dIcahn, however, was hesitant to officially lay out a timeline for any inflation-driven crisis.Marc Rowan \u2014 Apollo Global ManagementMarc Rowan \u2014 the CEO of Apollo Global Management \u2014 noted that rising price levels are affecting every portion of his portfolio.Rowan\u2019s company has assets under management of $472 billion and recently executed a deal to buy Yahoo and AOL from Verizon. A major risk to the company, however, is inflation.\u201cThere\u2019s not a place [where we are not seeing inflation]. Everything that we once did now costs more,\u201d Rowan said to CNBC\u2019s Leslie Picker. \u201cLead times, pressure on inventory, pressure on supplies, pressure on employment. Our experience in our portfolio is really no different than the broader economy.\u201dThe views expressed in this piece are the author\u2019s own and do not necessarily represent those of The Daily Wire.The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a member.<\/p>\n","protected":false},"author":99,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-953758","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/953758","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/99"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=953758"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/953758\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=953758"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=953758"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=953758"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}