Americans' love of their smartphones and apps may be contributing to the sluggish pace of inflation that is worrying Wall Street and the Federal Reserve, a top bond manager at BlackRock, the world's biggest asset manager, said on Wednesday. Consumers are relying less and less on devices such as cameras, radios and televisions, and services such as taxis and stores, replacing them with programs in their iPhones and other high-end phones, according to Rick Rieder, BlackRock's chief investment officer of global fixed income. Companies like Amazon.com Inc, Netflix ...
Smartphone apps to blame for low US inflation: BlackRock bond manager
Some of the recent pullback in inflation also stemmed from lower energy price
Reuters Last Updated at June 22, 2017 07:58 IST