Blackrock CEO Larry Fink on Friday expressed concern over the recession of a recession with a possible negative development of the US economy and the growth of trade war.
“I think we are very close, if not, now there is a recession,” Fink said in an interview with CNBC.
As US President Donald Trump announced a mutual tariff on 2 April, there was a possibility of economic recession along with sales in the stock market. On Wednesday, Tusrap The 90-day stop on the tariff was declared, which will not help much in restoring the US economy, according to Fink.
“I think you are going to see all over the board, just one Reduce speed Until there is more certainty. And now we have a 90-day break on mutual tariffs-it means long, more high uncertainty, ”he said.
Larry Fink’s long -term approach on US economy
According to Fink, American economy Risk in a short time, while he pinned hopes on artificial intelligence and advanced infrastructure to provide “transformative investment opportunities”. To enable economic development in the long run.
Larry Fink on mutual tariff
On Friday, Fink addressed a mutual tariff declaration on a call with analysts after the company reported the financial results of the first quarter.
The CEO of Blackrock said, “The US tariff announcements could imagine my 49 years in my 49 years in my 49 years.”
Jamie Dimon warns on recession
Fink is not the first CEO to warn about the possibility of recession. CEO of JP Morgan Chase & Company Jamie Dimon Raised the alarm at an emerging recession, saying that the possibility of recession in the US is 50 percent.
Earlier, the CEO of JP Morgan Chase also told Fox Business that a recession is a “potential result” of increasing tariffs.
“I am going to avoid my economists at this point, but I think perhaps this (recession) is a possible result,” he said.
Fed Chair Jerome Powell concerned on slow growth and inflation
Last week, Jerome Powell, president of the Federal Reserve, highlighted that a trade war could lead to high inflation and slow growth.
“We face a highly uncertain attitude with high risk of both high unemployment and high inflation,” he said.
What do experts say about recession?
“We are moving rapidly,” Peter Tachir, head of the macro strategies in the academy securities, told Bloomberg. “The world was ready for ‘mutual tariff’. Whatever hatred was started in Rose Garden is a disaster – mostly for America, but also for the global economy,” said Tachir.
“If 25% Tariff The US trading partners retaliate almost tight-for-tats, the US and global economies will not be depressed, but they will face severe recession, “the Chief Economist of Mark Zandi, Moody, has written on X.
Zandi said, “The recession will be adjacent to a hoping and extended by next year. The real GDP will come close to 2% of the peak in the trough, and the unemployment will increase its current 4% to 7.5% at its peak next year. I attach 15% chances in this dark landscape.”
Donald Trump’s mutual tariff
On 2 April, Donald Trump unveiled the standing mutual tariffs on several countries and later stopped him for 90 days on Wednesday. After the first announcement of the tariff, there was a serious sales in the global markets, which was later recovered on the announcement of the 90-day break.
