BlackRock CEO Expresses Concerns Over U.S. Economic Slowdown

In a recent interview with CNBC, Larry Fink, the CEO of BlackRock, highlighted a significant deterioration in the United States economy over the past few months. "I think we're very close, if not in, a recession now," Fink stated, pointing to the growing uncertainty and its impact on economic growth.

Uncertainty and Tariffs Extend Economic Challenges

Fink elaborated on the challenges ahead, mentioning the 90-day reciprocal tariffs as a source of prolonged uncertainty. "That means longer, more elevated uncertainty," he concluded, underscoring the potential for extended economic slowdown until more clarity emerges.

Client Anxiety Rises Amid Global Market Uncertainties

Following BlackRock’s latest earnings announcement, Fink also shared insights into the growing anxiety among the bank's clients. The widespread uncertainty about the future of global markets is "causing growing anxiety", as clients grapple with the unpredictable economic landscape.