Commonwealth's McMillan: Heightened inflation's not going away for three to five years

Brad McMillan, chief investment officer for Commonwealth Financial Network, says that the inflation spike created by the global supply crisis that has pushed inflation to the 6 percent level will last for another three to six months before fading, but he notes that there are structural elements that are also pushing inflation higher, and those conditions are not transitory. As a result, he expects inflation to retreat to the 2 to 3 percent range later in 2022 and to remain there for the next three to five years. Also on the show, Meredith Stoddard discusses Fidelity Investments' 2021 American Caregivers Study, author Jeffrey Hooke focuses on his latest book -- “The Myth of Private Equity: An Inside Look at Wall Street’s Transformative Investments” -- and Kyle Guske of New Constructs puts Peloton stock back in the Danger Zone after the company's most recent earnings report.