“We’ve had it for 25 years, but 3% is tolerable.”Billionaire investor David Rubenstein is the latest Wall Street titan raising doubts about the Federal Reserve's ability to reach its current inflation goals. David Rubenstein, Co-Founder and Co-CEO of Carlyle Group, speaks at the Skybridge Capital SALT conference in New York City, U.S., September 13, 2021. REUTERS/Brendan McDermidThe Fed currently targets inflation of 2% over the longer run as measured by the annual change in the price index for personal consumption expenditures. Outside of his views on the direction of inflation, Rubenstein told Yahoo Finance he doesn't see a recession in the cards this year, even as many financial institutions forecast an economic downturn and cut costs to prepare for one. "The numbers that we have and our own companies at Carlyle don't suggest that a recession is imminent," Rubenstein said.
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