BlackRock’s Rick Rieder says ‘each shopper’ is frightened about inflation
BlackRock‘s Rick Rieder informed CNBC on Tuesday he steadily has discussions about whether or not the U.S. economic system will run too sizzling, too quick in its restoration from the coronavirus pandemic.
“Pay attention, each shopper name I am on together with the one I simply completed … is speaking about overheating,” the chief funding officer of world fastened revenue on the world’s largest cash supervisor mentioned on “Halftime Report.”
“All people is speaking about overheating,” added Rieder, who oversees greater than $2 trillion of BlackRock’s $9 trillion in property below administration.
Rieder’s remarks got here shortly after Treasury Secretary Janet Yellen’s headline-making comments on the American economic system and interest-rate coverage at a seminar introduced by The Atlantic.
“It could be that rates of interest must rise considerably to ensure that our economic system does not overheat,” mentioned Yellen, who additionally led the Federal Reserve from 2014 to 2018.
The Fed has maintained a extremely accommodative financial coverage method for greater than a yr to…