BlockBeats News, May 25th - BlackRock Inc. stated that under the leadership of the new Fed Chair Powell, the Fed may have enough reason to support a rate cut instead of a rate hike. Navin Saigal, Head of Global Fixed Income for BlackRock's Asia-Pacific region, responded to a question about the probability of a rate hike during Powell's tenure, saying, "If I had to choose between a rate hike and a rate cut, I believe there are actually sufficient reasons to support a rate cut." "Looking ahead, the labor market is likely to face some pressure, which could signal that the Fed will either stay put or cut rates." Saigal's comments are at odds with the widespread expectation among bond investors. These investors are betting that Powell will prioritize maintaining the Fed's reputation in fighting inflation rather than catering to U.S. President Trump's demands for low interest rates. Current pricing indicates that the market is almost certain that the Fed will raise rates before December. (FXStreet)