Millennials are to blame for sky-high inflation, strategist says

Soaring inflation is putting markets on edge and triggering fears of recession. The latest consumer price index this week revealed a searing 9.1% increase year-on-year in June, prompting Treasury Secretary Janet Yellen to say that inflation in the U.S. is “unacceptably high.”

The causes behind the steep jumps include high commodity and energy prices triggered by supply shortages and Russia’s war in Ukraine, record government spending packages on economic stimulus and low interest rates amid the Covid-19 pandemic, and continuing labor shortages and supply chain problems meeting increased demand. 

But one investor is arguing that there’s another major factor to blame: millennials. 

“See,…