Larry Fink, CEO of BlackRock, expressed concerns about the US economy, suggesting it might already be in a recession or very close to one due to uncertainties surrounding tariffs implemented by President Trump. The stock market has reacted negatively to these tariffs, and while Trump has announced a temporary 90-day pause to stabilize conditions, Fink cautions that this only extends the uncertainty. He predicts a broader economic slowdown as businesses and investors hesitate to act during this unstable period.
I think we're very close if not in a recession now... I think all the uncertainty is making everyone pause. Everyone is waiting to see.
The sweeping tariffs will make the US wealthier, but Fink has warned there is an 'elevated uncertainty'.
What we're seeing is just a slowdown until we have more certainty. We now have a 90-day pause of the reciprocal tariffs, that means longer, more elevated uncertainty.
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