BlackRock investor: Rate hikes could make it harder for the Fed to hit its 2% inflation target

Rick Rieder, BlackRock's head of global fixed income and global asset allocation, noted that while inflation may be falling with a good CPI this week, he believes this is "a golden age for fixed income, not because rates are going to go down, but because you can get a lot of income in your portfolio." At the same time, he wonders, ironically, whether continued high interest rates will make it harder for the Fed to achieve its 2% inflation target because it puts a lot of money in the hands of high-income households. (Bloomberg)