U.S. stagflation fears overblown, bond market investors say at Milken Conference

Worries that the U.S. economy is heading into stagflation are overblown, several high-profile bond market investors said Monday at the 2021 Milken Global Conference program. Stagflation – when stagnant economic activity is combined with high inflation – is “extremely unlikely,” PIMCO Chief Executive Emmanuel Roman said in a panel discussion at the conference, held in Beverly Hills, California. Other participants in the panel discussion – including PGIM CEO David Hunt; Invesco CEO Martin Flanagan; Elizabeth Burton, chief investment officer for the Employees’ Retirement System of Hawaii; and Scott Minerd, Guggenheim Partners global chief investment officer – largely agreed that the threat of stagflation was remote.


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