'Blackrock Bond Chief Rieder Says U.S. Economy In 'Much Better Shape' Than Doomsayers Say' - CNBC
Portfolio Pulse from Benzinga Newsdesk
BlackRock's bond chief Rick Rieder believes the U.S. economy is in better shape than many expect, citing resilient government, consumer spending, improving homebuilder data, low unemployment, and $1.5 trillion in excess savings. He expects the Fed to pause rate increases and sees a high probability of a debt ceiling resolution.
May 23, 2023 | 7:56 pm
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POSITIVE IMPACT
BlackRock's bond chief Rick Rieder's positive outlook on the U.S. economy may boost investor confidence in the company's asset management capabilities.
Rick Rieder's positive outlook on the U.S. economy may lead to increased investor confidence in BlackRock's asset management capabilities, as he oversees $2.4 trillion in assets. This could potentially lead to an increase in the company's stock price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Rick Rieder's positive outlook on the U.S. economy may lead to a short-term boost in the S&P 500 ETF (SPY) as investor confidence in the overall market improves.
As Rick Rieder's positive outlook on the U.S. economy may improve investor confidence in the overall market, this could lead to a short-term boost in the S&P 500 ETF (SPY), which tracks the performance of the U.S. stock market.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 80