BlackRock's Rick Rieder: Don't underestimate the resilience of the U.S. economy

BlackRock's Rick Rieder said this week that while the economy is slowing, he believes it can rebound.

Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weekly"We think real GDP will finish at 2½%. Next year, we think it's going to be a percent and a half positive so moderating slower," the firm's Global Fixed Income chief investment officer explained."But I think people underestimate" the U.S. economy.

Rieder, who also oversees BlackRock's Global Allocation team, thinks that people are still going to buy equities despite the current demand for Treasury bonds. "Are we going to see 25% returns in equities? I don't think so, but I think equities will do their job. I think the multiple will stay relatively unchanged," he said."If you think the yield curve can normalize, you could create a decent tail wind for the equity market," Rieder added.

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