Billionaire hedge fund manager Bill Ackman told CNBC on Monday the economy will see a “massive” boom in the fall despite the coronavirus Delta variant. Ackman said trillions of dollars in federal stimulus, an increase in wages, pent-up savings, and the rise in vaccinations will lead to a “massive, massive economic boom.” The investor also … Read more
Warren Buffett said costs were rising fast during Berkshire Hathaway’s recent meeting. Buffett has called inflation a “gigantic corporate tapeworm” for investors and businesses. Asset-light companies that can raise prices and scale easily often weather inflation best. See more stories on Insider’s business page. Warren Buffett said he was seeing “very substantial inflation” and homebuilding … Read more
Retail inflation slowed to a 16-month low in January on the back of cooling of some food items, while industrial output growth clawed back into positive territory in December, bringing some cheer for an economy battling a record slump due to the impact of the deadly pandemic. Data released by the National Statistical Office (NSO) … Read more