Morgan Stanley CEO Calls for Fed Rate Hikes

(Bloomberg) — Morgan Stanley Chief Executive Officer James Gorman is girding for rate hikes, and he says markets are ready for them.

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“You’ve got to prick this bubble a little bit,” Gorman said Thursday in an interview with Bloomberg Television. “Money is a bit too free and available right now.”

Gorman pointed to wage increases, supply-chain bottlenecks and surging commodity prices driving inflation higher. Not all of that is a temporary phenomenon, forcing…

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