The head of the world\u0027s largest sovereign wealth fund warned that inflation will remain high, fed by climate change, greedflation. Read on.
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“Inflation is going to be tough to get down,” Nicolai Tangen, chief executive of the world’s largest sovereign wealth fund, said in an interview with the Financial Times on April 25.Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
A heavy price tag for the green energy transition and a reversal of the globalization that has held down manufacturing costs for decades are also part of the “mosaic,” he said. Tangen, speaking ahead of the oil fund’s inaugural investment conference, said the investor was “absolutely” seeing signs of so-called greedflation, where companies pump up prices beyond the extent that their own price pressures would demand.
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