(CNBC) The U.S. Federal Reserve won’t cut interest rates as much as markets expect because “embedded inflation” is too high, Blackrock CEO Larry Fink said Tuesday, speaking at a CEO-studded panel in Riyadh, Saudi Arabia. Fink, whose mammoth fund oversees over $10 trillion in assets, sees one rate reduction before the end of this year, compared to the two trims that other market participants have forecast.
Larry Fink says the Fed won’t cut interest rates as much as markets expect this year
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