Hedge fund founder Ken Griffin warned Thursday that inflation could persist for decades, citing U.S. government spending.
Griffin, the founder of Citadel, warned that the high U.S. budget deficits were unsustainable while at the Bloomberg New Economy Forum in Singapore, according to the New York Post. The federal budget deficit hit roughly $1.7 trillion for fiscal year 2023, according to an Oct. 21 release from the Treasury Department.
Griffin said the U.S. government failed to plan for inflation when it “went on the spending spree that created a $33 trillion deficit,” the Post reported.
The Consumer Price Index (CPI) rose by 3.7% on a year-to-year basis in August despite 11 interest-rate hikes since March 2022. (Read more from “Hedge Fund Billionaire Issues Bone-Chilling Prediction About Future Inflation” HERE)
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