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February 9, 2022

BlackRock Inc. Vice Chairman Philipp Hildebrand says central banks will have to live with higher inflation because the cost to the economy will be too great if they raise interest rates too much. He made the comments Wednesday in an interview on Bloomberg Television. "These inflation dynamics are very unpleasant, not acceptable in many ways, but they are driven by supply constraints not by an overheating economy. That will lead to a more muted cycle in the end," Hildebrand said.