Markets are getting their Fed call wrong, and the central bank isn't poised to cut rates anytime soon, BlackRock says
Investors are betting the Federal Reserve will start chopping down interest rates this year, but that's a scenario that's highly unlikely to play out, says BlackRock Investment Institute.
Stocks"have held up" on hopes for rate cuts, but sticky inflation dashes the potential for reductions by policy makers, BlackRock said. The Fed this month delivered its ninth straight rate increase, pushing its benchmark rate at 4.75% to 5% from zero in March 2022. "The Fed and other central banks made clear banking troubles would not stop them from further tightening," said Li.
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