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BlackRock Inc. CEO Larry Fink spoke at the 2025 National Retirement Summit in Washington, DC, USA on Wednesday, March 12, 2025.
Al Drago | Bloomberg | Getty Images
Black Stone CEO Larry Fink said on Monday that many business leaders believe the U.S. economy is already in a state of great recession.
“Most of the CEOs I talk to would say we may be in a recession right now,” Fink said at an event at the New York Economic Club.
“One CEO said the airline industry is a well-known bird in coal mines – canary in coal mines – I was told the canary was already sick,” Fink added.
The head of asset management also said that he believes Tariff Policy president Donald Trump It may be like central banks do this often during recessions, making it difficult for the Fed to lower inflation pressures and make it difficult for the Fed to lower interest rates.
“This idea about the Fed’s going to do Four less this yearI think this is a chance of zero. I’m even more worried that our inflation rate will increase, which will make interest rates higher than today. ” Fink said.
Prices in the Fed’s fund futures market now show that traders expect central banks to lower their benchmark interest rates by at least 1 percentage point by the end of this year. CME FedWatch Toolwhich could be four cuts of 0.25 percentage points.
As of the end of 2024, Blackrock held more than $11 trillion in assets as a company, distributed in public and private investment.
Fink’s comments were aired on Bloomberg TV.
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