BlackRock CEO Larry Fink expressed concerns about the U.S. economy, stating that he believes the country may be close to or already in a recession. Fears of an economic slowdown have increased following President Trump’s tariff announcements, leading to a sell-off in the stock market. Despite Trump’s decision to pause some tariffs for 90 days, Fink believes more certainty is needed to restore confidence in the economy. Surveys have shown weakening consumer and business sentiment, although job growth and retail sales have remained relatively strong. Fink suggested that consumers may have been stocking up on goods ahead of threatened tariffs, potentially masking underlying economic weakness. BlackRock’s first-quarter financial results showed mixed performance, with adjusted earnings per share exceeding expectations but revenue falling short. The company reported $84 billion in net inflows for the quarter and ended with nearly $11.6 trillion under management. Despite these results, shares of BlackRock were up less than 1% following the news. Fink’s comments about market uncertainty and economic anxiety reflect broader concerns about the future of the economy.
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