Questions why Fed would meet without latest jobs data, suggests delaying meeting.
Matt
Rick Rieder
No ambiguity about hiring velocity; Fed needs to get funds rate closer to 3%.
Asks if Fed cut is a lock.
Matt
Rick Rieder
Doesn't think it's a lock, expects some dissents.
Asks if dissents will continue with new Fed chair.
Matt
Rick Rieder
Disagreement isn't a crisis; data shows inflation elevated but productivity/innovation will address it.
Asks about Kevin Hassett as potential Fed chair.
Matt
Rick Rieder
Declines to comment on individuals; Fed will analyze data.
Questions if rate cuts help lower-income consumers given subprime borrowing.
Matt
Rick Rieder
Overnight funding rate less effective; long-end rates (5-10 year) matter more for economy.
Asks where 10-year yield goes by end of 2026.
Matt
Rick Rieder
Sees 10-year going to 3.5-4%; key is maintaining stability there.
Asks mechanism for Fed to control long-end rates.
Matt
Rick Rieder
Fed has multiple tools: balance sheet, voice, managing duration.
Asks about BINK ETF positioning for Fed cuts and AI investment impact.
Matt
Rick Rieder
Seeks best global value: reduced US investment grade credit, favors agency mortgages, European high-yield, Asian/EM rates.