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 on Monday that many business leaders believe that 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 thought that President Donald Trump’s pricing policies 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 relax four times this year, I see no chance.
Prices on the long -term market of federal funds currently suggest that traders expect the central bank to decrease its reference rate of at least 1 percentage point by the end of the year, depending on the CME Fedwatch tool, which could be four reductions 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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