Following the comprehensive explanation of new tariffs affecting nearly all major global trading partners by the US administration, BlackRock CEO and Chairman Larry Fink issued a stern warning about the potential consequences for the markets and the economy as a whole.
Speaking publicly after a dramatic 20% drop in the markets in just three days, Fink confirmed the shockwaves that hit investors.
Fink said, “I see this more as a buying opportunity rather than a selling opportunity” and added, “However, this does not mean that we cannot drop further.”
Fink highlighted the compounded pressures arising from both the uncertainty in monetary policy and the inflation risks stemming from recent decisions made by the White House, stating, “We are probably in a recession right now.”
In addition, Fink stated that the likelihood of the FED making four or five interest rate cuts in 2025, as predicted, is “zero.” He even added that a possible interest rate hike could also be on the table.
According to Fink, the actions of the White House could be much more inflationary than the market expects.
The CEO of BlackRock also warned that there could be an additional 20% drop in the markets.
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