IBM CEO says inflation fears could trigger ‘some chaos’
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Arvind Sharma, IBM CEO
CNBC
IBMCNBC has heard CEO Arvind Sharma tell CNBC that he was “always anxious” about inflation. He also warned of potential disruption ahead.
Krishna, who was being asked by CNBC what keeps his awake at night, said that “with all of the liquidity, as well as the fear of inflation rising its head, it can cause some chaos.”
According to the CEO of the tech giant, disruption might not happen for some time.
“I am always concerned about it.” [inflation], but I’m not sure it will have an impact on the business in 2022,” Krishna told CNBC’s Dan Murphy at the ADIPEC energy industry forum in Abu Dhabi, the United Arab Emirates.
Jerome Powell, Fed Chair has said previously that he expected inflation conditions to continue “well into next yearAnd he conceded that it was “frustratingSupply chain problems are not improving, according to the Fed. But, the Fed insisted that price increases are directly tied to inflation. coronavirus pandemic and that the supply chain problems will pass.
According to the Labor Department, 0.9% was recorded in U.S. Consumer Price Index for October. This index covers everything from groceries and gasoline, health care, and even rents and grocery purchases. reported on Nov. 10, significantly higher than expectations. This reading rose to 6.2% over the past year and reached its highest level since December 1990.
Covid concerns
Krishna said that there might be an economic slowdown in the event of a new Covid version.
He said, “We still have the pandemic on us.” He said, “If some other variant is introduced, I would worry because it will create a temporary slowdown, and not a permanent one.”
Krishna stated that vaccines and covid protocols are helping to reduce the severity of the disease.
— Additional reporting by CNBC’s Sam Meredith.
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