BlackRock's Rick Rieder says the Fed is unnecessarily concerned about low inflation and is more likely to raise interest rates before it cuts them.
BlackRock's global fixed income CIO says the Fed is too focused on inflation, and that will be the big market focus of Wednesday's Fed statement and briefing.
"I don't agree," said Rieder. "I still think there's a possibility they get one more rate hike in. But I just think they're not going to do anything for an extended period of time, and I don't think they need to."The Fed releases its statement at 2 p.m. ET, just ahead of Fed Chairman Jerome Powell's press briefing at 2:30 p.m. ET.
As for the rates outlook, Rieder said he believes the 10-year Treasury yield will be locked in a range for a longer period of time.
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