BlackRock CIO: The Federal Reserve will cut interest rates by 25bp next month, with two or more cuts expected next year

ChainCatcher news, BlackRock CIO Rick Rieder stated that he still expects the FOMC to cut rates by 25 basis points in December.

Rieder mentioned that the current target range for the federal funds rate of 4.5% to 4.75% is restrictive. After the rate cut in December, the Fed is expected to pause further cuts, and the FOMC will assess the frequency and pace of rate reductions. By 2025, it is anticipated that the Fed will cut rates at least twice, although Rieder did not provide specific timing.