Expect 'uncertainty and volatility' in the stock market for weeks until the Fed clarifies its rate stance, says BlackRock bond chief Rieder

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BlackRock's Rick Rieder said positive economic data is accelerating investors' anticipation of a Fed policy change and raising uncertainty in markets.

on Thursday after Fed Chair Jerome Powell refrained from outlining specific steps to rein in what he described as"disorderly" markets.

Rieder added that when a move toward reduced policy accommodation does take place, volatility in risk-free and risky assets may continue as markets adjust to those changes.

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