A lack of inflation and lower interest rates could be here to stay, one expert said Thursday.
Technological advances have driven pricing power and efficiency, contributing to lower prices in a range of items from oil to consumer goods, said Ken Moelis, CEO of investment bank Moelis and Co. That holds long-term implications for both interest rates and corporate strategy, he argued.
“If we’re in a technologically driven deflationary market, I think you’ll see it last longer than people think. And that’s why I think you’ll see rates stay low for a long period of time,” he said on CNBC’s “Closing Bell.”