BlackRock's Larry Fink Warns Against Overly Optimistic Fed Rate Cuts, Cites High 'Embedded Inflation' And Predicts Only 1 Reduction This Year
Portfolio Pulse from Benzinga Neuro
Larry Fink, CEO of BlackRock, predicts only one Federal Reserve rate cut in 2024 due to high embedded inflation, contrary to market expectations of two cuts. He attributes inflation to U.S. policies aimed at reducing foreign supply chain reliance.
October 30, 2024 | 9:46 am
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Larry Fink, CEO of BlackRock, suggests only one Fed rate cut in 2024 due to high embedded inflation, impacting market expectations.
Larry Fink's comments on Fed rate cuts and inflation are significant given BlackRock's influence in the financial markets. However, the direct impact on BlackRock's stock price is neutral in the short term as the prediction aligns with cautious market sentiment.
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