0631 GMT - Higher inflation poses a headwind for private equity, says Franklin Templeton CEO Jenny Johnson. Inflation in the U.S. is passing through to more expensive energy and materials. Buyouts in private equity have slowed, and if interest rates stay higher that's likely going to get harder and harder, she says. Many private-equity firms held their paper and built their companies during a zero-rate environment. "Now you have to carry that cost," she adds. "The exits are becoming harder, so I think there's areas where you have to be careful." But that always turns into opportunities, says Johnson. There are really good opportunities on the venture side that people overlook. "Everybody talks so much about AI. They're not talking about other technologies that are pretty impressive," like 4-D printing.