Important Takeaways:

• The CEO of Blackrock, which oversees over $10 trillion in assets, sees one rate reduction before the end of this year, compared to the two trims that other market participants have forecast.
• “I think 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 inflation in the world than we’ve ever seen,” Fink said.
• The Fed cut its benchmark rate by 50 basis points in September.

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