BlackRock ( BLK), has lowered its outlook for stocks due to
persistent inflation and increasing economic uncertainty.
BlackRock's Investment Institute strategists said Monday
that the company had reduced its exposure to developed market equity
They cited aggressive intervention by central bankers to control rising prices in the global economy.
Jean Boivin, a strategist, stated in Monday's note that "Right now
we believe the Fed has bound itself in by responding politically to rein in inflation
"Eventually, we believe that fighting inflation will cause irreparable damage to growth and
job creation, so central banks will continue to live with higher inflation."
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