According to BlockBeats, on September 12, Michael Chae, Chief Financial Officer of Blackstone Group, said that the company is “cautiously optimistic about a soft landing in the United States,” indicating that the alternative asset management company is betting that the Federal Reserve’s efforts to curb inflation will not trigger a US recession.
Blackstone’s own inflation measure, which strips out housing costs and adds in other relevant indicators, shows U.S. inflation at 1.7%, which Chae said would put the U.S. “on track to the Fed’s inflation target.”
Chae said data collected from Blackstone, the world’s largest alternative asset manager, suggests the labor market has been softening. Chief executives of Blackstone portfolio companies said in a June survey that they expect wage growth to slow next year. While “revenue growth is slowing” across Blackstone’s global portfolio, the businesses have shown “resilient margins.”
