BlackRock's Rieder says the Fed may pause ‘for an extended period of time’ after rate hike

CNBC with the report (gated) on an interview with BlackRock’s chief investment officer of global fixed income Rick Rieder.

1. “My sense is that this will be the last hike and the Fed will let this rate policy marinate through the system to create a slowdown,”
2. Current uncertainty in the banking sector will continue to play a role in dampening the U.S. economy such that the Fed may be able to stop raising rates sooner than it otherwise would have
3. while inflation is still a problem, it’s been coming down
4. wage inflation remains stubbornly high. “You still have sticky employment and sticky wages, so my sense is the Fed will be focused on those issues”
5. also doesn’t think the economy has slowed to a point that would appease the Fed. “I don’t think there’s tangible pressure on the U.S. economy”