BlackRock's Rieder says the Fed should begin rolling back 'extreme policy accommodation' as inflation data comes in hotter than expected
Rick Riederdoubled down on his stance the Fed should start pulling back on ultra-accommodative policy.
- Rieder said Thursday's
inflationdata shows prices are overwhelmingly high.
- He said the Fed will be better served fulfilling its mandate if it begins discussing tapering.
BlackRock's Rick Rieder doubled down on his stance that the Fed should consider rolling back its accommodative policy stance after key inflation data came in hotter than expected on Thursday.
"Ongoing adherence to the newly minted Average Inflation Targeting (AIT) framework in the face of a torrid 2021
Rider also said the inflation data out today is an "overwhelming" sign that prices are moving too high in some areas as demand grossly outpaces supply."In our view, the pursuit of inflation merely for inflation's sake poses a very real problem: That problem is that inflation in daily necessities is disproportionately felt by lower-income cohorts," said the CIO. In an interview with CNBC on Monday, he said he is confident that the market is ready for the Fed to taper its asset purchases and remove "excessive emergency conditions" that have become a market risk.
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