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Fed Warned to Rein in QE
One of Wall Street's biggest money managers has called on the Federal Reserve to rein in its program of quantitative easing, saying its bond-buying tactics are a "large and dull hammer" that have distorted markets and risk stoking inflation. Rick Rieder, who oversees $763 billion in fixed income investments for BlackRock, spoke out as the Fed debates how long to persist with the unorthodox measures it has used to stimulate the U.S. economy. His comments add BlackRock to the growing list of Fed critics who are warning of trouble ahead for the bond market. BlackRock has been an advocate of government debt in recent ... (full story)
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