TGI Fridays CEO Ray Blanchette argues inflation and the Fed's rate hikes pose a 'threat' to the restaurant chain's customers: emerging middle classes 'around the globe.'
TGI Fridays CEO Ray Blanchette says the restaurant chain pays ‘close attention’ to what’s happening in the stock market and at Federal Reserve meetings.on Wednesday, the CEO of one of America’s most beloved restaurant chains expressed concern that the middle-class will feel the brunt of the impact on "Cavuto: Coast to Coast."
on Tuesday. "We serve middle America in the United States. We try and serve emerging middle classes around the globe. So inflation is a threat to us… and we’re concerned about the rate hikes."agency is unlikely to pivot Goldman Sachs also noted that the Fed will deliver a third consecutive 75-basis-point interest rate increase back-to-back this week, then half-percentage point increases in November and December, followed by one quarter-percentage point hike in 2023 and one rate cut in 2024.
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