BlackRock’s Rick Rieder is said to be one of the candidates Trump is considering as new Fed chair. After the US CPI report this week Rieder said he sees scope for 50bp Fed cut in September after the cooler-than-feared inflation - Trump will like that!
Rieder said the latest U.S. inflation figures, while firmer than readings in recent months, still came in below the worst-case scenarios feared by markets. He pointed to encouraging signs in several core inflation components, which are now running at lower levels than in recent years.
Rieder argued the Fed could justify an aggressive 50-basis-point cut to the federal funds rate, bringing it more in line with long-term inflation expectations and reflecting “some of the productivity enhancement we are seeing across multiple industries.”
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Rick Rieder is BlackRock's CIO of Global Fixed Income.
This article was written by Eamonn Sheridan at investinglive.com.Hence then, the article about trump considers blackrock s rieder for fed chair trump likes rieder s 50bp cut call was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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