BlackRock CIO: The Fed will cut interest rates by 25bp next month, and there will be two or more next year
BlackRock Chief Information Officer (CIO) Rick Rieder said he still expects the FOMC to cut interest 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 cutting interest rates in December, the Fed is expected to pause its rate cuts and the FOMC will evaluate the number and speed of rate cuts. By 2025, the Fed is expected to cut interest rates at least twice, but Rieder did not give a specific time.
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