Key Words: Blackstone’s Jonathan Gray sees talk of quick Fed pivot to rate cuts as overblown

Blackstone Inc. Chief Operating Officer Jonathan Gray said Thursday that talk of the U.S. Federal Reserve cutting interest rates soon is overblown.

“The Fed is likely to pause or maybe go 25 basis points higher from here, but I think they’re unlikely to pivot as quickly as the market is expecting,” Gray said in an interview with the Financial Times.