BlackRock executive Watson: Fed's two rate cuts this year are reasonable

Marilyn Watson, head of global fundamental fixed income strategy at BlackRock, said the firm expected the Fed to cut interest rates about twice this year because resilient economic data and an "unexpectedly strong" labour market prevented the Fed from easing policy more quickly. "We did expect higher and more durable rates at the start of the year," Watson said. "We do still think there is a good chance of some rate cuts this year, but I think two or so cuts are probably pretty reasonable at the moment. There is a chance they will cut rates in June."