Charles Emond says the Quebec Pension believes inflation will ease over the next year
Article content
Inflation is likely to be temporary and affect many sectors of the economy, said the head of the $ 305 billion Quebec pension administrator.
Article content
“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.
![Prime Minister Justin Trudeau delivers his victory speech after the general election on September 21, 2021 at the Queen Elizabeth Hotel in Montreal, Quebec.]()
Trudeau’s economic agenda includes inflation, taxes, housing
![Nouriel Roubini, Chief Executive Officer of Roubini Macro Associates Inc., during a Bloomberg Television / Radio interview at the Greenwich Economic Forum (GEF) in Greenwich, Connecticut, the United States, on Tuesday, September 21, 2021.]()
Dr. Doom Nouriel Roubini becomes Dr. Realist by warning of a global “debt trap”
![A man buys in a supermarket in Beirut, Lebanon. The OECD says that short-term inflation risks are on an uptrend.]()
Rising inflation poses a short-term risk to the global economy, warns OCED
![Excluding fuel, the CPI rose 3.2 percent; also high, but not worrying like the headline.]()
Inflation is rising at the fastest pace in two decades in a hot phase that is making recovery difficult
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
