Interest rates are unlikely to fall soon, said an executive at a firm with assets of $1.8 trillion. Pimco's Daniel Ivascyn told the Financial Times he doubted central banks' ability to tame inflation. Not so fast, says one mammoth investor who believes interest rate cuts are still some way off – while a "hard landing" very much remains a possibility. Pimco manages assets worth $1.8 trillion – a bit smaller than the size of the entire UK economy. "We have a real legitimate inflation problem," Ivascyn told the FT, adding it would be difficult for central banks to cut their target rate until inflation is much closer to the 2% target.

---

Persons: Pimco's Daniel Ivascyn, —, Daniel Ivascyn, Ivascyn Organizations: Financial, Service, Financial Times, Federal Reserve, Fed