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Rick Rieder, BlackRock's chief information officer, said he still expected the FOMC to cut rates by 25 basis points in December. Rieder said the current target range for the federal funds rate of 4.5% to 4.75% is restrictive. After the December rate cut, the Federal Reserve is expected to pause interest rate cuts, and the FOMC will evaluate the number and speed of rate cuts. By 2025, the Fed is expected to cut rates at least twice, although Rieder did not give a specific time.
Rick Rieder, chief investment officer for global fixed income at BlackRock, said the Fed will cut interest rates by another 25 basis points this year, in part to ease the burden on a large number of people who are suffering from high borrowing costs. But he also believes that the Fed will continue to cut interest rates until 2025 because interest rates are still too high relative to inflation. (Golden Ten)
BlackRock Chief Investment Officer Rick Rieder said the Fed needs to cut interest rates at its September meeting to re-stimulate growth and reduce debt pressure on consumers, and said the Fed should cut rates by 50 basis points in September.
BlackRock Chief Investment Officer Rick Rieder said the Federal Reserve is expected to cut interest rates at its September meeting.
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