Blackrock expects Fed rate hike to 3% in 2023

Strategists at Blackrock, the world's largest asset management firm, believe the Fed will raise rates to about 3% next year. They also noted that if they tightened policy in 2021 and brought inflation to the 2% target, U.S. unemployment could reach 10%.

Blackrock also said it sees a neutral rate of about 2%-2.5%. This forecast is based on a slowing inflation rate and its proximity to its