BlackRock CEO Larry Fink Warns: U.S. May Already Be in Recession
BlackRock CEO Larry Fink believes the U.S. economy may have already entered a recession.
“We’re very close, if not in, a recession now,” Fink said Friday on CNBC’s Squawk on the Street.
Tariff Uncertainty Fuels Economic Jitters
Fink pointed to President Donald Trump’s sweeping tariffs as a key reason behind growing fears. Markets have slumped since Trump introduced the new levies last week. On Wednesday, Trump paused some of those tariffs for 90 days — but Fink says that’s not enough.
“Just a slowdown until there’s more certainty,” Fink warned. “The 90-day pause just stretches out the uncertainty.”
BlackRock CEO Larry Fink has voiced significant concerns regarding the U.S. economy, suggesting it may already be in a recession. He attributes this downturn to President Donald Trump’s recent tariff policies, which he describes as unprecedented in his nearly five decades in finance. Fink warns that these tariffs could lead to a further 20% decline in the stock market, exacerbating inflation and impacting everyday Americans’ retirement and education savings.
Fink emphasizes that the economic repercussions of the tariffs extend beyond Wall Street, affecting millions of Americans. He notes that the market volatility has led to increased client anxiety and a shift towards cash allocations, with BlackRock seeing $20 billion in net inflows in April alone. Despite the short-term risks, Fink remains optimistic about long-term growth drivers such as artificial intelligence and infrastructure modernization.
In light of these developments, Fink advises investors to stay calm and focus on long-term investment opportunities, suggesting that the current market downturn could present a buying opportunity.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a "detective-like" mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
