BlackRock CEO Larry Fink Predicts Limited Fed Rate Cuts Amid Persistent Inflation

Despite market expectations, Fink suggests only two rate reductions this year, doubting the Fed's 2% inflation target will be met.

BlackRock CEO Larry Fink anticipates the Federal Reserve will cut interest rates twice in 2024, despite ongoing inflation above the central bank's 2% target.
Recent inflation data shows a rate of 3.5%, higher than expected, which has impacted market forecasts and investor sentiment.
Fink argues that a stable inflation rate between 2.8% and 3% would be acceptable, challenging the Federal Reserve's current target.
Under Fink's leadership, BlackRock's assets under management have reached a record $10.5 trillion, indicating strong performance despite economic uncertainties.
The Federal Reserve faces a challenging decision on rate cuts as it balances high inflation with market expectations.