Geopolitical risks are making inflation near 3% likely, BlackRock says

Investment giant BlackRock Inc. BLK, -0.91% is making what it calls one of its strongest strategic calls of the moment: Inflation is likely to stay closer to 3% as the world increasingly splits itself into competing blocs. Attacks by Yemen's Houthi militants on Red Sea vessels, followed by a U.S.-led response, are prompting a rerouting of tankers and cargo ships which is driving up shipping costs. Meanwhile, Taiwan's Jan. 13 election of a new president whose party supports a separate identity for the island ...