Blackstone Finance Chief Chae Says US Inflation Is ‘at Target’

Blackstone Inc.Chief Financial Officer Michael Chae said the firm is “cautiously optimistic about a soft landing,” signaling the alternative asset manager is betting the Federal Reserve’s efforts to tamp down inflation won’t trigger a US recession.

“Soft landings are hard to land,” Chae said Wednesday at the Barclays Global Financial Services Conference. “They’re pretty rare in history — but where we sit today looks pretty encouraging.”

Bureau of Labor Statistics data paint a mixed picture of inflation and set the stage for a more gradual pace of rate cuts. The core consumer price index — which excludes energy ...