Oaktree’s Marks Says Inflation Is ‘Excessive,’ Higher Rates Overdue
- But he adds timing isn’t a winning trade for most investors
- Floating-rate debt and property assets can beat inflation
Howard Marks
Photographer: Mark Kauzlarich/BloombergThis article is for subscribers only.
The fastest inflation in four decades has reached an “excessive” level, in part because of stimulative monetary policy used to counter the economic consequences of the pandemic, said Howard Marks, co-founder of Oaktree Capital Management.
“I am worried about inflation. Inflation is excessive,” Marks said in a Bloomberg TV interview. “Higher inflation means higher interest rates, higher interest means lower asset prices.”