BlackRock CEO Larry Fink Believes Stock Markets Could Fall Further, With the U.S. Already Entering a Recession and the Dollar Weakening as President Donald Trump’s Tariff Policies Destabilize the Global Economy
By Intel Slava Z
BlackRock CEO Larry Fink believes stock markets could fall further, with the U.S. already entering a recession and the dollar weakening as President Donald Trump’s tariff policies destabilize the global economy.
Bloomberg writes about this.
“The economy is weakening as we speak,” Fink, 72, said in an interview at the Economic Club of New York, adding that he foresees an even greater slowdown in economic growth in the coming months.
Fink said inflation is likely to be high, casting doubt on the Federal Reserve’s ability to cut rates this year.
As an example of the growing concern, Fink said he has already heard from airline executives about declining demand for travel.
“Most of the business leaders I talk to would say we’re probably in a recession right now,” Fink said.
Global stock markets saw a massive sell-off last week that wiped out trillions of dollars after President Donald Trump unveiled new tariffs.
Investors dumped stocks and started buying bonds, seeking safety.
“I would say that in the long term, this is more of a buying opportunity than a selling opportunity. But that doesn’t mean we can’t go down another 20%,” Fink said.
The US dollar is likely to weaken and consumption is likely to decline, Fink said.
In the long term, however, Fink believes Trump will focus on the growth agenda.
At the same time, JPMorgan Chase & Co CEO Jamie Dimon warned that without a quick resolution to the world’s tariff war, there would be a potentially “catastrophic” fragmentation of the country’s long-standing economic unions.
Even before markets began to fall last week, Fink had been saying there was anxiety in the economy. In his annual letter to investors last month, he said there was more anxiety in the economy now than “at any time in recent memory.”
Original source: https://t.me/intelslava/74299
