BlackRock’s Rieder expects Fed to raise rates twice in 2017

Rick Rieder, BlackRock's Global Chief Investment Officer, speaks during the Reuters Global Investment Outlook Summit in New York

NEW YORK (Reuters) – The U.S. Federal Reserve will likely raise interest rates twice in 2017 following an expected rate hike at its Dec. 13-14 policy meeting, a top bond manager at BlackRock <BLK.N>, the world’s biggest asset manager, said on Friday.

While the November U.S. jobs report, released earlier on Friday, was not as robust as some analysts had forecast, it “unquestionably sets the Fed up for a December policy rate hike,” Rick Rieder, BlackRock’s chief investment officer of global fixed income, said in a statement.

After a rate increase later this month, the U.S. central bank “will then likely move twice more by the end of next year,” Rieder said. <FFZ6>

(Reporting by Richard Leong; Editing by Paul Simao)