BlackRock chief says 'ignore noise'

Investors planning for retirement should ignore day-to-day "noise" over events from the Federal Reserve's interest rate strategy to a standoff over Greece's bailout, BlackRock Inc President Robert Kapito said.

Greece "gets so much noise from everyone, that it's so fascinating that it causes the typical mom and pop that are saving not to want to invest because they're afraid", Kapito said in an interview in Miami. "It's really just noise because if it's not going to be Greece today, it's going to be someone else in the paper."

Greece's standoff with Germany over the terms of a 240 billion-euro ($271 billion) bailout has roiled markets after a new government in Athens vowed to ease austerity measures imposed by creditors during the global financial crisis.