BlackRock analyst: Under Powell's leadership, the Federal Reserve is expected to "cut rates once".

BlackRock Group said that under the leadership of the new Federal Reserve Chairman Powell, there may be enough justification for the Federal Reserve to support a rate cut instead of a rate hike. Navin Saigal, Head of Global Fixed Income Business in the Asia-Pacific region at BlackRock, responded to questions about the probability of rate hikes under Powell's tenure by saying, "If I had to choose between a rate hike and a rate cut, I actually believe there are sufficient factors to support a rate cut." Looking ahead, the labor market is likely to face some pressure, which may indicate that the Federal Reserve will either stay put or cut rates. Saigal's statements contrast with the general expectations of bond investors, who are betting that Powell will prioritize maintaining the Fed's reputation in combating inflation over catering to President Trump's demands for low interest rates. Current pricing indicates that the market is almost certain that the Federal Reserve will raise rates before December.