In a Thursday interview with CNBC’s Jim Cramer, Charles Schwab CEO Walt Bettinger said inflation is clients’ most pressing concern.
In a Thursday interview with CNBC's Jim Cramer, Charles Schwab CEO Walt Bettinger said inflation is the most pressing concern among the brokerage firm's 35 million clients.
"When they think about inflation, it has moved their position from the first quarter of being a little bit on the bullish side to where now they're a little bit on the bearish side," Bettinger said of Schwab investors."We just put out today one of our regular studies on client sentiment, and what's happened is, inflation has now become the number one concern among investors," Bettinger said.
Continually stubborn inflation has been top of mind for Wall Street, with investors craving a reprieve so the Federal Reserve will cut interest rates. The averages dipped on Wednesday after theBettinger stressed that it's important for Schwab clients to have diverse portfolios that include fixed-income assets so they can deal with an inflated economic environment.
"When it comes to investing, time is your friend," Bettinger said."And being in the market is often a lot better strategy than trying to time the market."Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weeklychicago concerts
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