JPMorgan Chase & Co.’s Mary Callahan Erdoes got her first assignment managing money when she was 6 years old. The eldest of four children, Erdoes showed an early aptitude for math that was fostered at her grandmother Kay’s suburban Chicago breakfast table, where she helped balance her grandparents’ checkbook on an adding machine.
Emerging markets face a “definitive danger” from accelerating inflation and should resist the temptation to impose capital controls to stem currency gains, said Arminio Fraga , the head of Brazil’s stock exchange and a former central bank president.
Capital controls should be used as a transitory tool to curb foreign investment inflows and not to cover up problems in fiscal or monetary policy, said Arminio Fraga, former director of Brazil’s central bank.
Former president of Brazil’s central bank and chairman of BM&F Bovespa SA , Arminio Fraga , said the central bank should analyze inflationary pressures before making decisions on the basic interest rate.
Brazil isn’t prepared for economic growth of 6 percent or 7 percent a year because of inflationary pressures and infrastructure “bottlenecks,” Arminio Fraga , former president of the central bank, told O Estado de S. Paulo.
Short sellers in Brazil, whose favorite targets tumbled five times faster than MSCI Inc.’s country stock index this year, are boosting bearish wagers to a record after valuations rose to the highest levels since 2008.
Brazil’s economic situation may change “radically” and the central bank may have to resume interest-rate increases unless inflation slows further, former central bank President Arminio Fraga told Veja magazine.
Jorge Paulo Lemann lost his first job, as a financial columnist at Jornal do Brasil , after graduating from Harvard University in 1961. Then a brokerage he started almost failed during a Brazil stock rout.