U.S. inflation is ‘far stickier’ and could last a decade

U.S. inflation is likely to be “far stickier” and could last a decade, according to Bill Smead, chief investment officer at Smead Capital Management.

Wall Street is gearing up for key inflation data later Tuesday, when the Labor Department releases its January consumer price index. It is a widely followed inflation gauge that measures the cost for dozens of goods and services spanning the economy.

“The enthusiasm … right now is the hope that we’ll get a friendly Fed out of a soft landing, and we do not believe that is going to be the case,” Smead told CNBC’s “Streets Sign Asia.”

“We think the inflation is going to be far stickier and longer lasting — in fact, a decade because in the…