CEO Larry Fink said the market is pricing too many interest-rate cuts from the Federal Reserve given the US economy continues to grow.

Money markets imply a one-in-three chance the Fed will deliver another half-point cut in November, and price a total of about 190 basis points of easing by the end of next year. But Fink said it’s hard for him to see that materializing, as most government policies at the moment are more inflationary than deflationary.

BlackRock Inc. CEO Larry Fink says rates traders are making “crazy” bets on deep Fed rate cuts despite signs of a strong economy.

BlackRock CEO Larry Fink said on Tuesday investors are wrong if they think the Fed will make massive interest rate cuts later this year because the billionaire money man believes the US economy will continue to grow.