CandleFocus BlackRock CEO Predicts Further Fed Rate Cuts Before Year-End
2024-10-29
Author: Content Editor
Larry Fink, CEO of BlackRock, predicts that the Federal Reserve may cut interest rates by another 25 basis points before the end of 2024 to address rising costs. This statement has sparked discussion about the possibility of more aggressive rate cuts. The upcoming Federal Open Market Committee (FOMC) meeting in November is expected to be a crucial discussion that may impact the national economy and financial markets. Fink also highlighted that inflation pressures are not temporary and pointed to structural policies that could have a long-term impact. The Federal Reserve previously announced plans for three rate cuts in 2024 to ease inflation. Federal Reserve Chair Jerome Powell acknowledged the gradual decline in inflation but emphasized the need for continued reduction to reach a 2% inflation target. The Fed has a history of raising rates to combat inflation.
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