BlackRock CIO: The Fed will cut interest rates by 25bp next month, and there will be two or more cuts next year
According to a report by Golden Finance, Rick Rieder, Chief Information Officer (CIO) of BlackRock, still expects the FOMC to cut interest rates by 25 basis points in December. Rieder stated that the current target range of 4.5% to 4.75% for the federal funds rate is restrictive. After the December rate cut, it is expected that the Fed will pause its rate cuts and the FOMC will evaluate the frequency and pace of future cuts. It is expected that the Fed will cut interest rates at least twice by 2025, but Rieder did not provide a specific timeline.
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