BlackRock, the world's largest asset manager, has revealed its economic outlook for 2026, focusing on the path of monetary policy by the U.S. Federal Reserve (the Fed).
BlackRock expects the Fed to begin a cycle of interest rate cuts, but it indicates that this process will be slower and smaller than the market currently anticipates. This expectation is due to the continued pressures of high inflation in the U.S. economy, which limits the central bank's ability to lower rates quickly.
In the details of the forecasts, BlackRock expects that the year 2026 will end with an interest rate lower than it is now, but it does not specify an exact number in this summary. The main message is that the era of cheap money (the period of extremely low interest rates) has ended, and interest rates may stabilize at a level higher than the historical average in the long term.
This forecast comes in the context of the company's warning that the global economy is entering a new transitional phase characterized by increased volatility and higher financing costs.
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