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Nicolai Tangen, CEO of Norges Bank Investment Management, during a news conference in Oslo, Norway, Tuesday, Jan. 30, 2024. The $1.6 trillion Norwegian wealth fund added to its bets on the biggest companies of technology last year after interest in artificial intelligence fueled a surge in the sector.
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Tariff-driven inflation is among the biggest market risks in 2025, Nicolai Tangen, head of the world’s largest sovereign wealth fund, said on Tuesday.
“I don’t think I should give any advice to the United States, but if you look at the risk to financial markets, I think inflation is certainly one of them, all driven by tariffs,” the Norges CEO told CNBC. Bank Investment Management. the World Economic Forum in Davos.
“Many of the suggestions now coming out of the United States are potentially inflationary. They could cause more inflation. There could be less labor supply, there could be more tariffs; all of these things are driving inflation, so it’s not a given that inflation will go down. “he stated.
Tangen also noted additional key risks including higher interest rates for longer, high levels of government debt and geopolitical tensions. As his main risk, he cited the concentration in US stocks among large-cap technology companies, which he said had “never been larger.”
This is breaking news and will be updated shortly.
