A period of inflation won't happen, given the high level of unemployment, Peter Fisher, global head of fixed income of BlackRock, told CNBC Tuesday.
“Energy prices are going to be volatile," Fisher explained. "But if you go back to ‘07, ‘08, we drove up energy prices, and it acted as a tax on the consumer. When energy prices went up too fast, people cut back on their other expenditures.”
He added that he can “imagine an inflation scare,” but not inflationin reality.
BlackRock is an investment management company.
Fisher went on to say he is optimistic about the economy: “The economy is going to be doing well, and the Fed is not going to raise rates. It’s still an attractive time to get into the investment-grade and high-yield credit.”