Rick M. Rieder

And so I have to ask that question all the time, you know, "Is this in my bucket or is it in someone else's bucket?"

Rick Rieder is the chief investment officer at BlackRock.

He helps oversee a $2.4 trillion portfolio for the world's largest asset manager, BlackRock.

Here's how Rick answered.

It's a key question, one we will ask our experts over this final stretch, including...

Black Rock's Rick Rieder and Goldman's Tony Pasquariello, both joining me in just a little bit.

Here's the scorecard with 60 to go in regulation today.

We are mostly green.

Takes us to our talk of the tape.

The markets over the year's final stretch.

Let's welcome in Rick Rieder.

He is BlackRock's CIO of Global Fixed Income, head of the global allocation team.

Companies aren't hiring aggressively, but they aren't firing aggressively either.

BlackRock's Rick Rieder recently described the labor market as having very low-hire but also very low-fire conditions.

In other words, employers may be cautious about hiring workers, but most aren't responding to economic uncertainty with massive layoffs.

Now, that's a very different environment from what we normally see if we're headed into a recession.

Well, the drop in markets, uh, come today after the Fed raised rates by a quarter point and signaled more could come later this year as inflation remains too high.

But as Rick Rieder of BlackRock argued yesterday, a rate hike won't necessarily lower energy prices, insurance, or healthcare costs, and it could adversely impact the housing market as we've seen mortgage rates rise.

So what will the end result be of a hike on the economy? Joining us now is Mark Giannoni.

He is Chief US Economist at Barclays.