Blackrock CEO, Larry Fink, talks to the New York Economic Club on April 07, 2025, in New York.
Spencer Platt | Getty images
Blackrock CEO Larry Fink said many business leaders on Monday, the United States’s economy is already in a significant slowdown.
“Most of the CEOs I'm talking about say that we are probably in recession at the moment,” said Fink during an event for the New York Economic Club.
“A CEO specifically said that the air transport industry is a proverbial bird in a coal mine – canary in the coal mine – and I was told that the Canari was already sick,” added Fink.
The asset management director also said that he was thinking that the pricing policies president Donald Trump could exert upward pressure on inflation and make it difficult for the federal reserve to reduce interest rates, as the central bank often does during recession.
“This notion that the federal reserve will To facilitate four times this yearI don't see any chance of that. I am much more worried than we could have increased inflation that will increase the much higher rates than they are today, “said Fink.
The prices on the term market of federal funds currently suggest that traders expect the central bank to drop its reference rate of at least 1 percentage point by the end of the year, according to the Fedwatch CME toolwhich could be four cuts of 0.25 percentage points.
Blackrock as a business held more than $ 11 billions in assets at the end of 2024, spread over public and private investments.
Fink comments were broadcast on Bloomberg Television.
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