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Seeking Alpha 2021-10-25 19:41:15

I'm not sure I'd listen to Twitter's Jack Dorsey on inflation - Jefferies chief market strategist

I'm not sure I'd listen to Twitter's Jack Dorsey on inflation - Jefferies chief market strategist

Jefferies chief market strategist David Zervos pushed back against a dire inflation prediction leveled by Twitter (NYSE:TWTR) CEO Jack Dorsey, arguing instead that the COVID reopening has disrupted an economy that otherwise has a long recent track record of benign inflation. "I think people are way ahead of themselves [on inflation] and in particular Jack Dorsey," he told CNBC on Monday. "He's a very smart guy, a great tech guy. I'm not sure I'd look to him on inflation." Over the weekend, Dorsey tweeted: "Hyperinflation is going to change everything. It’s happening." The outspoken cryptocurrency advocate, who thinks that financial vehicles like Bitcoin (BTC-USD) can cure hyperinflationary risks because of their programmatically limited supply, clarified in a follow-up response tweet, "It will happen in the US soon, and so the world." Countering Dorsey's concerns that inflation will spiral out of control in the face of a massive rise in demand,

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