Inflation will “remain temporary,” says Caisse boss

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Charles Emond says the Quebec Pension believes inflation will ease over the next year

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Inflation is likely to be temporary and affect many sectors of the economy, said the head of the $ 305 billion Quebec pension administrator.

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“We have to watch this very closely,” said Charles Emond, CEO of Caisse de Depot et Placement du Quebec, in a Bloomberg TV interview on Wednesday.

“Our forecast is that it will hit around 2.9 percent in the US,” he said, adding that inflation is likely to ease over the next year.

Caisse manages $ 390 billion ($ 305 billion) in pensions for retirees in Quebec, Canada’s second most populous province, and provincial insurance plans. For the first half of this year, it posted a return of 5.6 percent on rising stock markets and private equity gains.

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48-year-old Emond plans to encourage investments in personal credit and infrastructure, he said in an interview with Bloomberg last month. These plans include hiring.

Emond, who joined the fund from Bank of Nova Scotia in 2019, was appointed CEO in January 2020.

Bloomberg.com

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