Fink foresees a 25-basis-point Fed rate cut by 2024 amid sustained inflation pressures.
The November 6 FOMC meeting, post-U.S. election, may drive pivotal rate-cut decisions.
Fed plans three rate cuts in 2024, targeting inflation decline after a 22-year peak.
Larry Fink, CEO of BlackRock, discussed his expectations for the Federal Reserve’s upcoming policy decisions at the Future Investment Initiative in Saudi Arabia. He highlighted the ongoing monetary pressures and the challenges the Fed faces in responding to current economic conditions.
Speaking to a global audience, Fink said that the Federal Reserve may cut interest rates by another 25 basis points before the end of 2024 to balance rising costs.
JUST IN: #BlackRock CEO Larry Fink anticipates "at least" another 25bps interest rate cut this year.#LarryFink #Crypto #BreakingNews pic.twitter.com/Yf6oRl1bKn
— Coin Edition: Your Crypto News Edge (@CoinEdition) October 29, 2024
This prediction has sparked discussion about the possibility of the Federal Open Market Committee (FOMC) making further rate cuts, with some concerned about a more aggressive 50 basis point cut.
FOMC Meeting and the US…
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