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Black On Friday, CEO Larry Fink told CNBC that the US economy has weakened that growth may be negative.
“I think we are very close, if not, recession now,” Fink said further “Skin on the street.“
Fears of economic slowing have increased dramatically after the president Donald Trump Last week, wide tariffs open, causing a sale on the stock market. Trump on Wednesday announced that she stopped at some of those imports for imports for 90 daysBut this step was not enough to restore confidence in the economy, Fink said.
“I think you are going to see as soon as there is a slowdown until there is more confidence. And now we have a 90-day pause on mutual tariffs-it means a longer and more increased uncertainty,” Fink said on Friday.
Consumer and business executives have shown a weakening mood in recent months. However, other economic data, such as job growth and retail sales, have survived better. Fink said consumers may have accumulated the goods ahead of the threatening tariffs, which could mask some basic economic weaknesses.
Despite its concern, Fink said he did not think that the United States is in the financial crisis, and he expects artificial intelligence in the economy, as in the economy.
At the New York Economic Club, Fink said other leaders also believe that the United States is “probably in recession“
The latest Fink comments come after BlackRock has announced its financial results in the first quarter. In A press -release On Friday morning, the CEO commented that “uncertainty and anxiety over the future of markets and economics dominate the clients’ conversations.”
Larry Fink, CEO BlackRock, talks to David Faber and Jim Cremer on Squawk on the street on the New York Stock Exchange during the morning trading on April 11, 2025 in New York.
Michael M. Santiago | Getty Images | Gets the image
The financial results of the asset management giant were ambiguous. According to LSEG, BlackRock reported $ 11.30 from adjusted income for the first quarter, higher than $ 10.14 waiting for Wall Street analysts. However, $ 5.28 billion was not $ 5.34 billion.
At the asset front, BlackRock reported a net tributary of $ 84 billion and ended in March with almost $ 11.58 trillion.
On Friday, the company’s shares increased by 2.3%.
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