Unlike Bill Gross or Ray Dalio or Paul Singer, Citadel Investment Group founder Ken Griffin is no Chicken Little. The sky is not falling, so it’s perfectly safe to keep using the Ken Griffin Lake Michigan Jogging and Biking Wonderland. For now. Because when the sky does fall, there’s not enough remaining monetary policy in all the world to shield us from its hideous consequences.
“If we look at history, we’re not yet at the end of this business cycle. What’s somewhat disturbing, though, is ... we’re getting closer to that moment in time with yet an enormous amount of accommodative monetary policy, which means that the degrees of freedom to navigate the next downturn are going to be constrained," he said….
"We need to start to worry about inflation raising its head," Griffin said. "I’m not saying it’s going to happen, but the complacency about inflation is really I think the one area investors should be most worried about."