One reason why: The prices of some goods and services have crept up due to inflation and could continue to rise, especially if the government pushes President Joe Biden’s proposed $6 trillion spending plans.
This is a major worry for most wealthy investors, according to CNBC’s latest millionaire survey. As many as 65% of millionaires are concerned about inflation caused by recent government spending, according to the report. Of those, 34% said they were very concerned.
The survey, conducted online in April and May by Spectrum Group on CNBC’s behalf, had 750 respondents with investable assets of $1 million or more.
Keep reading at CNBC.