Morgan Stanley co-President Ted Pick said investors face the daunting task of navigating the twin threats of red-hot inflation and economic cooling, warning that global markets are on the verge of a major “paradigm shift” away from years of easy money policies that will drive heightened volatility for an extended period to come.
“We'll have these periods where it feels awfully fiery, and other periods where it feels icy, and clients need to navigate around that,” Pick said during the Bernstein Strategic Decisions Conference in New York last week, referring to inflationary “fire” and recessionary “ice.”
