‘I think the Fed is right’: BlackRock’s Rieder

The Federal Reserve voted Wednesday to raise interest rates by 0.75%, or 75 basis points, the most since 1994.

In response, stocks rallied on Wednesday before a sharp sell-off Thursday. When the dust settled, the S&P 500 fell 5.8% this week, the most in a single week since March 2020 as the benchmark index entered a bear market.

And while the Fed’s actions continue to pressure financial markets, but BlackRock’s Chief Investment Officer of Global Fixed Income Rick Rieder has faith the Fed’s…

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