Friday's US nonfarm payrolls unexpectedly fell. BlackRock global fixed income CIO Rick Rieder said the weak print reflects an AI-era productivity revolution, with US firms learning to expand output without adding staff. He said, "I don't think adjusting the overnight federal funds rate will really solve the problem—we've seen this before... I just think there's little point in raising rates now."

2026-08-09

Friday's US nonfarm payrolls unexpectedly fell. BlackRock global fixed income CIO Rick Rieder said the weak print reflects an AI-era productivity revolution, with US firms learning to expand output without adding staff. He said, "I don't think adjusting the overnight federal funds rate will really solve the problem—we've seen this before... I just think there's little point in raising rates now."