Blackrock says Fed may not need to hike rates in May, economy slowing


Eamonn Sheridan

BlackRock, the world’s largest asset manager. with its outlook for the Federal Open Market Committee (FOMC). Via Rick Rieder, chief investment officer of global fixed income at the firm in an emailed statement to Reuters:


  • Friday’s (April 7) US jobs report showed a strong pace of hiring in March, also marked by slowing wage gains and jobs growth that was below the three, six and 12 month moving averages
  • expectations of tighter credit conditions after the failure of two U.S. banks last month
  • a slowing economy
  • “Last Friday’s employment report, while clearly not alarming in any way, allows investors to see more clearly through to what should be a tangibly slower set of economic conditions,”

  • “Presumably, this will also see a cessation of Fed policy rate hikes after one more possible hike at the May meeting, although it’s also possible the Fed is done already,”

  • inflation should ease going forward

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