Rick Rieder on Fed credibility in fighting inflation

I think the Fed deserves an awful lot of credit.  Listen, there was enough criticism to go around, myself included, that last year they waited on QE.  I think that's been well chronicled.  This year, they cannot be any more clear.  They cannot be more strident in inflation is what they're doing and they're not going to back off that.  I think they're going to get the funds rate to 3 3/4, 4% and then I think they're going to let long and variable lags in monetary policy do their thing, so they're pretty clear.  So I think there's a credibility from the Fed that you've got to applaud.

~ Rick Rieder, Head of Global Allocation Investment Team at BlackRock, Bloomberg TV, September 9, 2022