Sticky inflation is a huge problem for the Federal Open Market Committee (FOMC). Rick Rieder is BlackRock’s chief investment officer of global fixed income. Remarks following the higher than expected inflation data from the US on Wednesday:The world has clearly shifted to services, and particularly experiential, consumptionYou can see that same dynamic in the amazing prices people are willing to pay to be at events, and/or together with other people, and consequently, we see in today’s data services inflation remaining stickyA key factor to understand here, is that many of these areas are not very interest rate sensitive, and thus the Fed has a very hard task in bringing down these price lev
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