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BlackRock bond chief: Bring on the rate hikes

Janet Yellen
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Janet Yellen

BlackRock's Rick Rieder says the Fed is behind the curve, and it should hike rates a full percentage point in the next six months to a year.

Hiking rates could help the markets by adding more certainty. But he also said the Fed could find it may want to provide more accommodation later on to provide more liquidity and stop long-term rates from rising and hurting growth.

Rieder, co-head of fixed income, has created a Yellen Index, and it shows how the central bank missed an opportunity to raise rates months ago, before the recent bout of spotty economic reports.