Million

BlackRock

Larry Fink, CEO of BlackRock, the world's largest money manager, said today that the FED may reduce interest rates this year, but may not meet its inflation target. 
BlackRock also has a Bitcoin Spot ETF called IBIT. 
While markets are nervous about the direction of monetary policy, Fink said he was skeptical about the central bank reaching its 2% inflation target anytime soon. Fink's remarks come in light of the latest report showing inflation running at 3.5% annually. 
Despite the high inflation rate, Fink expects the Fed to make some interest rate cuts this year. However, he also predicts that the central bank may have to accept that inflation will remain high. 
“When everyone from the famous economists said earlier this year that we would do six cuts, I said maybe they would do two,” Fink said in an interview on CNBC's “Squawk on the Street.” “I still say maybe two,” he maintained his stance. 
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Fink's forecast, which fell outside consensus in January and February, is in line with market expectations that have been recalibrated since hot inflation data became widespread this year. Fed officials have been reluctant to cut rates until they see more convincing evidence that the rate of price growth is returning to target. 
However, Fink suggested that the FED may have set its targets for inflation as too high, meaning too low inflation: 
<blockquote> 
 “Inflation has moderated and we have always said that inflation will moderate. But will it moderate to the final rate the Fed is seeking? I have my doubts about this. Do I believe we can achieve stable inflation between 2.8% and 3%? “I would call it a win and a victory.” 
</blockquote> 
Fink's comments came on the same day that BlackRock reported quarterly earnings that beat Wall Street expectations for both profit and revenue. The company also announced that its assets under management broke a record, reaching $10.5 trillion. 
*This is not investment advice. 
 Continue Reading: <a href="https://en.bitcoinsistemi.com/blackrock-ceo-larry-fink-predicts-fed-rate-cut/">BlackRock CEO Larry Fink Predicts Fed Rate Cut</a>

BlackRock CEO Larry Fink Predicts Fed Rate Cut

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