Larry Fink says the Fed won't cut interest rates as much as markets expect this year

Andrew Ross Sorkin speaks with BlackRock CEO Larry Fink during the New York Times DealBook Summit in the Appel Room at the Jazz at Lincoln Center in New York City on Nov. 30, 2022.The U.S. Federal Reserve won't cut interest rates as much as markets expect because "embedded inflation" is too high, Blackrock CEO Larry Fink said Tuesday, speaking at a CEO-studded panel in Riyadh, Saudi Arabia.Fink, whose mammoth fund oversees over $10 trillion in assets, sees one rate reduction before the end of this year, com ...