This Hedge Fund Manager Called Inflation Early. He Now Says Consumer Prices Will Finish 2022 at a Level That ‘Screams Failure by the Fed.’
Far from the bustle of Wall Street, inside his downtown Minneapolis office, Tim Magnusson got his first aching gut feeling about U.S. inflation in May of last year.That’s when U.S. government data showed a 10% increase in used car and truck prices during the prior month, April of 2021. Magnusson, then a senior portfolio manager at hedge fund firm Garda Capital Partners, sensed something was amiss from the report. Magnusson had spent more than a decade of his career as an inflation trader and his father was a truck driver.
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