Blackstone Inc. President Jon Gray said economic growth will slow as stubborn inflation weighs on the Federal Reserve’s ability to begin lowering borrowing costs.

Gray signalled the fundraising environment was also starting to improve. Blackstone counted $39.4bn of inflows in the quarter, lifting its assets under management by 7 per cent to $1.1tn.

The Consumer Price Index in April rose 2.3% on an annual basis, signaling that price hikes remain above the Federal Reserve's goal of bringing down inflation to a 2% rate. The CPI was forecast to ...

This "gray wave" is being driven by inflation and a lack of affordable housing, especially for older people with disabilities. Economy. What's driving the rise in homelessness among seniors.