Larry Fink, general director of Blackrock, speaks at the Economic Club in New York on April 7, 2025 in New York.
Spencer Platt Getty images
Blackrock The general director of Larry Fink said on Monday that many business leaders believe that the United States economy is already significantly slowed down.
“Most of the general directors I talk to would say that we are probably in recession now,” Fink said at a party for the Economic Club in New York.
“One of the general directors said that the airline industry is the proverbial bird in the coal mine – canaries in the coal mine – and I was told that the Canary is already sick,” Fink added.
The management management management also said that he thought Tariff rules president Donald Trump It can exert pressure on inflation and hinder the federal reserve reduction of interest rates, just like the central bank often during recession.
“It is a belief that the federal reserve is going To facilitate four times this yearI see zero chance. I am more worried that we could have increased inflation, which will bring rates much higher than today – said Fink.
Prices on the Futures Fed Funds market currently suggest that traders expect that the central bank will reduce its compared interest rate by at least 1 percentage point by the end of the year, in accordance with CME Fedwatch toolwhich can be four cuts of 0.25 percentage points.
Blackrock as a company had assets worth over $ 11 trillion at the end of 2024, spread in public and private investments.
FINKA comments were broadcast on Bloomberg television.
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