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Wells Fargo sees U.S. 2022 inflation, GDP around 4%

by Mike Robinson

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© Reuters. FILE PHOTO A Wells Fargo logo can be seen in New York City on January 10, 2017, U.S.A. REUTERS/Stephanie Keith/File Photo

LONDON (Reuters – The U.S.’s inflation and economic growth will be around 4% in the coming year. That suggests inflation will stay higher than previously anticipated. Wells Fargo (NYSE:)’s Wealth & Investment Management CIO said on Monday.

Darrell Cronk said that inflation “remains sticker that people expect,” referring specifically to the 2022 outlook at the annual Reuters Investment Outlook Summit.

Steve Brice from Standard Chartered Bank (OTC) stated that the Federal Reserve would likely deliver less monetary tightening than is currently being priced on financial markets.

He said, “We are aware that markets will price around 2 Fed rate rises next year. It was at one point nearly three.”

We still believe we will see one rate increase. Part of that is the dollar reaction function. But also, what’s happening in China.

 

 

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