The world’s leading asset manager will manage several asset purchase programs on behalf of the Federal Reserve, including corporate bonds. BlackRock had already assisted the Fed during the 2008 crisis, and more recently the ECB.
When times are tough, central banks turn to BlackRock. The Federal Reserve said on Tuesday it had called on the company to take over several of its new asset purchase programs. A new mark of the influence of the largest manager in the world who had already assisted the Fed during the 2008 crisis, and more recently the European Central Bank.