BlackRock: Fed might not need to hike rates in May as US economy slows

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Rick Rieder, Chief Investment Officer of global fixed income at BlackRock, the world’s largest asset manager, crossed wires via Reuters late Monday while saying, “The Federal Reserve may not need to raise interest rates further to fight inflation, as the fallout from last month’s turmoil in the banking sector and a series of recent labor data point to a slowing US economy.”

EUR/USD pays little heed to the news as it holds lower grounds near 1.0860, despite recently bouncing off the lowest levels in a one-week.

Also read: EUR/USD scales above 1.0860 ahead of Eurozone Retail Sales and US Inflation

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