Fed Could Slash Rates by 50 Basis Points in September After Weak Jobs Report, Says BlackRock Executive: Report

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BlackRock executive Rick Rieder reportedly thinks the U.S. Federal Reserve could slash rates by 50 basis points in September. Rieder, the asset management giant’s chief investment officer of global fixed income, said in a note to clients that Friday’s tepid jobs report from the U.S. Bureau of Labor Statistics could convince the Fed to institute a larger cut than expected, according to a new report from CNBC. “If slack in the labor force builds at all, or we continue to see a below 100,000 jobs h...