Janet Yellen, Treasury Secretary (since January 2021) and former Fed chair (2014-2018), has hinted at higher interest rates to prevent the US economy overheating.
Rick Rieder, Chief Investment Officer of Global Fixed Income at Blackrock, who joined the firm in 2009, and is a Wharton MBA, told CNBC that his "every client call...(is) talking about overheating" shortly after Yellen made her comments. Rieder oversees more than $2tr of Blackrock's $9tr AuM.
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