Former Home Depot CEO Bob Nardelli suggested on “America Reports” Thursday that inflation hasn’t hit its peak yet and warned that Americans are “in for a lot of turbulence.”
BOB NARDELLI: The Dow…it’s not giving us any disinformation…It’s a fact, facts are friendly…I’m kind of staying put. I’m not trying to react. Yesterday was up a thousand. Today it’s down a thousand…I think if you’re just an average day trader, you ought to just…not get involved in this, these ups and downs. I don’t think we’re at the peak yet on inflation.
Some of the people on the programs have said that maybe we’ll get to 10. I don’t know…my first home was 18% interest, and if you look at today the [average] home is $368,000, average monthly mortgage is $1,400, at a couple more points of interest rate…we’re not going to be able to get that reach by a lot of people that want to own their own home. I think we’re in for a lot of turbulence for a longer period.