BlackRock CEO Larry Fink told investors that CEOs are telling him the US economy is likely already in a recession, despite potential for further declines. Fink said most CEOs believe the economy is weakening and slowing down with inflation likely to be elevated. The Federal Reserve’s interest rate cuts are also uncertain due to inflation concerns. Fink sees this as an opportunity to buy stocks over the long run, but warns of another 20% decline in the market. The US stock market has already plunged 9-10% in recent days following President Trump’s tariff announcement.
Source: https://www.foxbusiness.com/economy/blackrocks-fink-says-ceos-tell-him-think-us-economy-recession