Inflation Cools But Remains Above Fed's 2% Target
Macro·1 article across 1 outlet
Story updated Rewritten when the story materially grows; the wire is checked every 15 minutesAbout this data
BlackRock’s Rick Rieder noted that the latest CPI report provided markets with a reason to celebrate, yet inflation continues to exceed the Federal Reserve's 2% target. He emphasized that the economy is now 'in the ballpark' and suggested that increasing overnight rates may not be the most effective method to further reduce inflation.
Rieder pointed out that the larger issue for markets is how to effectively manage inflation moving forward, indicating that while progress has been made, the goal of reaching the 2% target remains a challenge.
BlackRock
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“BlackRock’s Rick Rieder says the latest CPI report gave markets reason to celebrate, but inflation remains above the Fed’s 2% target.”
Bloomberg — Inflation Is Cooling. But is 2% Out of Reach?