16 Shawwal 1445 - 25 April 2024
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Eye of Dubai
Business & Money | Saturday 23 September, 2023 1:42 am |

Fed seen to cut interest rates in 2024: BlackRock

The Federal Reserve is nearing the end of its current cycle of interest rate hikes aimed at tamping down inflation and may look to cut rates next year, Rick Rieder, BlackRock's Chief Investment Officer for Global Fixed Income, told Fox Business.


"The thing that will be interesting next year is the Fed will start cutting rates," Rieder said.


He added that the Fed will probably want to do one more rate hike later this year, and then it will stop and "sit here for a while" so that higher yields on fixed income assets "will be with us for a while."


The Fed will look to cut rates in the second half of 2024 once the labor market starts to soften further.


On Sept. 20, the US central bank decided to maintain the interest rates at their highest level since 2001, as widely expected. In its two-day meeting, the Federal Open Market Committee (FOMC) kept policy rates at the current range of 5.25%-5.50%, according to data available with Argaam.



Source : Argaam




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