BlackRock’s Rieder Urges Fed to Cut Rates by 50 Basis Points

BlackRock's Call for Rate Cuts

Rick Rieder, BlackRock's Chief Investment Officer of Global Fixed Income, has called for the Federal Reserve to make a decisive move to cut interest rates by 50 basis points. A basis point is one-hundredth of a percentage point; thus, a 50 basis point cut translates to a 0.5% reduction in interest rates. Rieder believes such a move is necessary to reignite economic growth and alleviate the growing debt pressure on consumers.