Central Banks Unite: 'Higher for Longer' Credo Signals Interest Rate Cut in 2024

BlackRock's Chief Investment Officer for Global Fixed Income, Rick Rieder, predicts that the Federal Reserve will cut interest rates in 2024 after a period of rate hikes aimed at controlling inflation. Rieder believes that the Fed will likely raise rates one more time this year before pausing and then cutting rates in the second half of 2024. He points to a slowing economy as a factor influencing the Fed's decision. Rieder also suggests that investors can find opportunities in short-term yield investments while limiting risk.