Michael Howell: AI Will Fuel Inflation, And Markets Aren’t Ready

Wealthion - Be Financially Resilient · Jun 3, 2026 · 44m

Michael Howell, Managing Director at GL Indexes, warns that the global liquidity cycle is rolling over — just as AI spending, inflation pressure, Treasury stress, and China’s gold strategy are reshaping markets. In this interview with Maggie Lake, Howell explains why AI may be inflationary before it becomes deflationary, why the U.S. economy is pulling liquidity out of financial markets, and why investors may be moving from “speculation” into a more dangerous phase of the cycle. He also breaks down why he believes China is the real force driving gold, how crypto is flashing a liquidity…