BlackRock “expects two rate cuts this year, starting in September

BlackRock Chief Investment Officer Rick Ryder told CNBC that he expects two rate cuts this year, starting in September.

The Fed's intense tightening has shaken consumer confidence among low-income earners. It will be difficult for the Fed to delay any longer,” he said. “If key economic data, including inflation, improves, we could see a July rate cut,” he added.