BlackRock CEO Larry Fink has sounded an alarm over the rising US deficit, warning that it could have severe consequences for the country’s economy. In a recent statement, Fink expressed concern about the growing national debt and its impact on the nation’s financial stability.
The US government’s budget deficit has been increasing steadily, with the current deficit projected to be over $1 trillion by 2023. Fink believes that this trend could lead to higher interest rates, reduced economic growth, and increased borrowing costs for consumers and businesses.
Fink’s concerns come as US President Donald Trump threatens a trade war with various countries, which could further exacerbate the deficit problem. The president’s aggressive stance on trade has sparked fears among investors and economists, who worry that it could lead to higher tariffs, reduced exports, and decreased economic growth.
As the deficit continues to grow, Fink’s warning serves as a reminder of the need for policymakers to address this critical issue. With the US economy already facing challenges from low growth and rising inflation, the national debt is a pressing concern that requires immediate attention.
Source: https://www.ft.com/content/f94a99e6-f1d7-4e91-912c-868965969560