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SAO PAULO – One of the themes that has stirred the financial market the most is the fear of high inflation in the United States. While stock exchanges have had days of panic over recent data, the Federal Reserve (US central bank) continues with a speech that high inflation is a passing phenomenon.

And two of the most important names in the market in recent years have very different views on this scenario. On the one hand, Ben Bernanke, former chairman of the Fed between 2006 and 2014, agrees with the US BC that inflation should not remain high for long, while on the other, Mohamed El-Erian, economist and chief adviser to the group Allianz is very concerned about the risk of inflation.

During a panel at Expert XP, the two discussed their views, with Bernanke reinforcing that he sees high inflation as something fleeting, especially in a scenario where it has been well below the Fed’s 2% target for a long time, being “normal” that now it can stay a period above...

Wall Street is diving back into the business of turning home loans into bonds, injecting new competition into a market long dominated by government-backed mortgage giants Fannie Mae and Freddie Mac .

The so-called private-label mortgage market—in which financial firms serve the middleman role of creating giant pools of loans and selling them to investors—had more than $42 billion of issuance in the second quarter. That is the most since the pandemic started and almost the most for any quarter since the last financial crisis, according to Inside Mortgage Finance, an industry research firm.

This market still made up a mere 4% of all mortgage bonds issued last quarter. Fannie Mae and Freddie Mac, which issue bonds that come with a federal guarantee that investors will get paid, remain the industry’s dominant players.

But mortgage investors expect the private market to keep growing as a repository of loans that Fannie and Freddie can’t or won’t...

Grocery-store chains are still battling supply challenges that some executives said are as bad as what they saw in spring 2020, when hoarding left holes in stocks of some staples.

Industry executives say new problems are arising weekly, driven by shortages of labor and raw materials. Groceries including frozen waffles and beverages remain scarce as some food companies anticipate disruptions lasting into 2022. A wider range of products is running short and logistical challenges are compounding for many retailers.

Donny Rouse, chief executive of Louisiana-based Rouses Markets, said he is struggling to fill shelves as his company runs low on everything from pet food to canned goods. The chain of more than 60 supermarkets is sometimes receiving as little as 40% of what it orders, prompting Mr. Rouse and his staff to try to secure products earlier and more often. Before the pandemic, Rouses received well over 90% of its orders.

“It is difficult for...