Larry Fink says Fed won't cut interest rates as much as people think, warns inflation 'embedded'

BlackRock CEO Larry Fink said Tuesday he does not believe the Federal Reserve will cut interest rates as much as some analysts expect, due to "embedded" inflation. During a roundtable at the annual Future Investment Initiative (FII) in Saudi Arabia, the head of the world's largest asset manager was asked how much he sees the central bank cutting rates by the end of 2024. "It's fair to say we're going to have at least a 25 (basis point cut), but that being said, I do believe we have greater embedded inflatio ...