Lates News

Regarding the unexpected decline in the U.S. non-farm payroll data on Friday, Rick Rieder, Chief Investment Officer of BlackRock's Global Fixed Income Division, stated that the unexpectedly weak employment data from last month reflects the "productivity revolution" of the AI era. He believes that the decrease in non-farm payroll numbers indicates that U.S. companies are learning how to expand output without increasing their workforce. He said, "I dont think adjusting the overnight federal funds rate will really solve the problem we've seen this situation before... I just think that raising rates nowadays doesn't make much sense."