BlackRock investment officer: Federal Reserve has room to cut interest rates twice this year

Rick Rieder, chief investment officer for global fixed income at BlackRock, believes bond investors, who have been tormented by rising yields for a month, can soon find some comfort in slowing inflation and the Federal Reserve, which is on track to cut interest rates twice this year as inflation slows in the coming months. "It's getting harder and harder for them to do that, but I still think they can." Mr. Rieder says BlackRock has reduced its interest rate exposure and is investing more in the short-term, and once it sees a few good inflation reports and evidence of slowing employment, it can start pulling the long term.