Morgan Stanley/Pick: The Era of Zero Interest Rates and Inflation is Over

Morgan Stanley (NYSE:MS) CEO Ted Pick stated that the days of easy money and zero interest rates are definitely in the past. Referencing the famous 1992 book by Francis Fukuyama, "The End of History and the Last Man," Pick remarked, "The era of financial pressure, zero interest rates, and zero inflation has come to an end. Interest rates will be higher, and challenges will arise globally. And the end of 'the end of history'—geopolitics has returned and will be a part of the struggle for decades to come." Speaking at the Future Investment Initiative in Saudi Arabia, Pick discussed the challenges faced by public companies. He noted, "We kept the sugar high from Covid and zero interest rates, allowing small companies to go public with very little business planning, and then we went through a very tough period of nearly 18 months with almost nothing. Now it feels like a more normalized pace. Being a public company is more difficult."