The Federal Reserve has been incredibly slow in responding to changing economic conditions in the United States and shouldn't wait to raise interest rates, the head of the world's biggest money manager told CNBC on Wednesday.
A rate hike would strengthen the U.S. dollar and boost world economies, BlackRock Chairman and CEO Laurence Fink said on "Squawk Box."
"They're behind the curve, but they have a systematic approach. They finished bond purchasing this month and I think they will be on a path, ultimately, to normalized rates," said Fink, who has led BlackRock through its entire two-decade history and has more than 30 years of investment experience.
Of course, what constitutes "normalized" rates could very well change with the economic conditions.