Posted 1/15/2024, 10:11:30 AM
BlackRock Exec Warns Markets Overestimate Fed Rate Cuts Amid Persistent Inflation
- BlackRock VP says investors' bets on US rate cuts could prove excessive as inflation stays sticky
- Rapid drop in goods inflation giving false sense on underlying price pressures
- Markets betting on 6-7 Fed rate cuts in 2023, first in May
- Warns service inflation and wages still rising rapidly, limiting Fed's room to aid growth
- BlackRock agrees $12.5B deal for infrastructure firm GIP, its biggest buy in over decade