Bill Ackman says stakeholder capitalism will make inflation ‘persistent and growing’—not ‘transitory’
Pershing Square Capital Management’s founder Bill Ackman has thrown his hat into the inflation debate that has been simmering on social media amongst influential newsmakers including Cathie Wood and Elon Musk.
Ackman in a Twitter post Thursday said that central bankers haven’t considered the inflationary impact of ESG initiatives that are likely to be “persistent and growing”, not just “transitory.” Stakeholder capitalism is expected to not only help lift wages, but also boost energy costs, among other inflationary factors, according to Ackman.
The costs of transitioning to cleaner fuel plus the stranding of polluting alternatives could increase the cost of energy at the same time that food, commodity and other essential prices have been rising.
He joins Ark Investment Management CEO Cathie Wood and Tesla Inc. founder Elon Musk over the past two weeks in weighing into the inflation debate that is emerging globally, amid supply chain logjams as nations begin to emerge from lockdowns spurred by the coronavirus pandemic.
More finance coverage from Fortune:
- $69 billion in Bitcoin at the center of Miami crypto court fight
- FTX’s crypto loses 5% of its value despite the exchange plastering the World Series with ads
- Only 11% of companies are hitting their emissions goals
- 2022 home prices will keep rising at or near double digits, predicts the analyst who called the current housing boom
- Top D.C. financial regulators release stablecoin report and urge Congress to pass legislation
Subscribe to Fortune Daily to get essential business stories straight to your inbox each morning.
