Fidelity’s Jurrien Timmer, On Inflation And Why 3% Is The New 2%

The Federal Reserve’s 2% inflation target is just gravity: it’s a sure force, something the investing world simply takes for granted. But, Fidelity Investments’s Jurrien Timmer believes that force is about to change: “Three is the new two in terms of inflation. And by some metrics, if you take longer-term measures of inflation, we’re closer to three and a half”. Timmer is director of global macro at Fidelity, an 80-year-old investing house that manages an astounding $13 trillion. In the lates...