BlackRock's Rieder Says Fed Funds Rate Should Be at 3%

Monetary Policy Strategy - The speaker suggests implementing measures to enhance velocity within the financial system [1] - Focus on stabilizing the back end of the yield curve to maintain mortgage rates conducive to real estate activity and existing home sales [2] - The speaker believes the funds rate should be at 3% [3] - Suggests that if the market is mispriced, it should be corrected to the appropriate level [4] Interest Rate Management - The speaker indicates the possibility of initially moving rates slightly lower [4] - Advocates for a reassessment of the economic situation after the initial rate adjustment to determine the need for further adjustments [4] Inflation Expectations - The speaker mentions a five-year inflation break-even rate of 235 basis points (2.35%) [3]