BlackRock CIO Rick Rieder said he still expects the FOMC to cut interest rates by 25 basis points in December.

Rieder said the current federal funds rate target range of 4.5% to 4.75% is restrictive. After the December rate cut, the Fed is expected to pause rate cuts and the FOMC will evaluate the number and speed of rate cuts. By 2025, the Fed is expected to cut interest rates at least twice, but Rieder did not give a specific time. (Jinshi)