BlackRock CIO: The Federal Reserve will cut interest rates by 25bps next month, and there will be two or more cuts next year.

On November 18th, Jinshi Data reported that Rick Rieder, Chief Information Officer (CIO) of BlackRock, still expects the FOMC to cut interest rates by 25 basis points in December. Rieder stated that the current target range of 4.5% to 4.75% for the federal funds Intrerest Rate is restrictive. After the rate cut in December, it is expected that the Fed will pause its rate cuts, and the FOMC will assess the frequency and speed of the rate cuts. By 2025, it is expected that the Fed will cut interest rates at least twice, although Rieder did not give a specific timeline.