BlackRock on inflation (shifting in the fitting course) and the Fed (increased 4 longer nonetheless)

BlackRock is the world’s largest asset manager. The firm’s chief investment and portfolio strategist, Americas, Gargi Chaudhuri is taking a circumspect view of the better CPI report:

  • CPI came in (@0.3% m/m and 3.4% y/y) better than expected (0.4 and 3.4 respectively)
  • but higher-for-longer interest rates from the Federal Reserve are likely to be still necessary
  • “This print reiterates that while inflation is moving in the right direction, a more restrictive policy stance with interest rates remaining on pause is the appropriate monetary policy for this macroeconomic environment”

More on the CPI data (and retail sales) here ICYMI:

Be aware, though that folks are getting excited!

This article was written by Eamonn Sheridan at