CryptossorCryptossor
  • Home
  • News
    • Global
    • Bitcoin
    • DeFi
    • Cryptocurrency
    • Economy
  • Technology
  • Contact
Facebook Twitter Instagram
Subscribe
CryptossorCryptossor
Twitter
  • Home
  • News
    1. Global
    2. Bitcoin
    3. DeFi
    4. Cryptocurrency
    5. Economy
    6. View All

    Investors Seek Refuge in Cash as Recession Fears Mount, BOFA Survey Reveals

    Mayıs 18, 2023

    Report: Well Known Crypto Firms Still Not Adhering to Basic Governance Standards

    Mayıs 18, 2023

    EU Council Adopts New Rules for Europe’s Crypto Markets

    Mayıs 18, 2023

    BRICS to Strengthen Economic Cooperation — Sherpa Calls for Increased Trade in National Currencies

    Mayıs 18, 2023

    Bitcoin Billionaire: This Platform Could Crash! But Like FTX..

    Ocak 11, 2023

    Tomorrow is Critical Day for Bitcoin: 5 Analysts Are Waiting For These!

    Ocak 11, 2023

    2 Important Charts Say ‘Buy’ This Cryptocurrency!

    Ocak 11, 2023

    Major Cryptocurrency Exchange Announces: Terminating!

    Ocak 11, 2023

    Defrost Finance Team Calls Rug Pull Claims Slander

    Aralık 30, 2022

    Arab Bank Switzerland Presents 10 DeFi Tokens to Customers

    Ocak 7, 2022

    Celsius Network Confirms They Lost Money In BadgerDAO DeFi Attack

    Aralık 3, 2021

    SEC Chairman Gary Gensler Speaks About DeFi

    Aralık 1, 2021

    Bitcoin Price Predictions for 2023 from the Professionals

    Ocak 11, 2023

    Why Is Bitcoin Price Rising? Will the Ascension Continue?

    Ocak 11, 2023

    Iceberg Capital Launches $1 Billion Fund with Venom Foundation

    Ocak 11, 2023

    What is Flare (FLR)? Flare Token Price and Comment

    Ocak 11, 2023

    The end of the road has appeared for the Plus model of the Samsung Galaxy S series! So what’s the reason?

    Ocak 11, 2023

    Mortgage applications increase in the USA, interest rates decrease

    Ocak 11, 2023

    The expectation for the future of the economy is getting worse: The rate of those who have negative expectations about the economy has increased from 50 percent to 71 percent.

    Ocak 11, 2023

    Economists hope lifting of China’s COVID bans will boost 2023 growth better than expected

    Ocak 11, 2023

    Investors Seek Refuge in Cash as Recession Fears Mount, BOFA Survey Reveals

    Mayıs 18, 2023

    Report: Well Known Crypto Firms Still Not Adhering to Basic Governance Standards

    Mayıs 18, 2023

    EU Council Adopts New Rules for Europe’s Crypto Markets

    Mayıs 18, 2023

    BRICS to Strengthen Economic Cooperation — Sherpa Calls for Increased Trade in National Currencies

    Mayıs 18, 2023
  • Technology
  • Contact
CryptossorCryptossor
Home»Altcoin»Blackrock CEO Expects Inflation to Persist, but No Major US Recession in 2023
Altcoin

Blackrock CEO Expects Inflation to Persist, but No Major US Recession in 2023

cryptossorBy cryptossorNisan 15, 2023Yorum yapılmamış3 Mins Read
Facebook Twitter Pinterest LinkedIn Reddit WhatsApp Email
Share
Facebook Twitter Pinterest Reddit WhatsApp Email



Blackrock CEO Expects Inflation to Persist, but No Major US Recession in 2023

Blackrock’s CEO, Larry Fink, stated in an interview on Friday that he does not anticipate a “big recession” in the United States. However, he believes that “inflation is going to be stickier for longer.” In contrast to the U.S. central bank’s 2% goal, Fink predicts that “we’re going to have a 4ish floor in inflation.”

Blackrock Clients Reduce Risk in Portfolios as Inflation Concerns Persist

Larry Fink, chairman and CEO of Blackrock (NYSE: BLK), the asset manager with more than $9 trillion in assets under management (AUM), predicts that inflation in the U.S. will persist for a considerable amount of time. Fink was interviewed on Friday by the hosts of CNBC’s “Squawk on the Street” and stated that he does not anticipate a major economic downturn in the country.

“I am not expecting a big recession in the [United States],” Fink told the broadcast hosts. He also emphasized that the significant fiscal stimulus injected into the country needs to be “offset.”

While acknowledging that some sectors of the economy are “weakening,” Fink stated that “other sectors, because of these tremendous fiscal stimuli, are going to offset some of that.” The Blackrock executive also discussed inflation, emphasizing that he believes it “is going to be stickier for longer. In other words, I think we’re going to have a 4ish floor in inflation.”

Regarding a possible recession in 2023, he stated that he is “not sure we’re going to have a recession” and suggested it might occur in 2024. Fink also expressed bewilderment at the reaction to the fall of Silvergate Bank, Silicon Valley Bank, and Signature Bank.

Fink said:

This is not a systemic problem, this is not a problem that’s going to have impact. As we saw today we had our big banks having great quarters … performing really well. So I think this is just an example of, you know, when the sea or the tide goes out, some people are going to be left there.

In mid-March, Fink shared his views on the banking industry following the collapse of three banks and asserted that “we’re likely to see stricter capital standards for banks.” Fink’s latest evaluation, shared with CNBC hosts on Friday, coincides with recent remarks made by Blackrock’s chief investment officer of global fixed income, Rick Rieder.

Rieder anticipates that the U.S. Federal Reserve will increase the benchmark rate to 6% this year and maintain it at that level for an extended period to alleviate inflationary pressures. During his interview, Fink also informed CNBC that Blackrock’s clients are reducing risk in their portfolios.

“We’re seeing more and more clients who want to decrease risk while maintaining a more holistic and resilient portfolio by establishing a stronger foundation of bonds and equities,” Fink explained.

Further, the Blackrock CEO touted the company’s success over the past five years, boasting of “growing by $1.8 trillion in net inflows.” Despite “all this pessimism,” he emphasized that Blackrock grew “more in this first quarter than the first quarter of ’22.”

What do you think Larry Fink’s predictions mean for the future of the U.S. economy? Do you agree or disagree with the Blackrock CEO’s assessment of the inflationary environment and the likelihood of no recession in 2023? Share your thoughts in the comments below.



Source link

Share. Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Email
Previous ArticleMusk Mulls AI Startup to Rival Chatgpt Maker Openai, Report
Next Article Economist Paul Krugman Criticizes Florida Gov. Ron DeSantis’ Opposition to Central Bank Digital Currency
cryptossor
  • Website
  • Twitter

The most realistic News Of The Crypto [email protected] https://twitter.com/cryptossorcom

Related Posts

Investors Seek Refuge in Cash as Recession Fears Mount, BOFA Survey Reveals

Mayıs 18, 2023

Report: Well Known Crypto Firms Still Not Adhering to Basic Governance Standards

Mayıs 18, 2023

EU Council Adopts New Rules for Europe’s Crypto Markets

Mayıs 18, 2023

BRICS to Strengthen Economic Cooperation — Sherpa Calls for Increased Trade in National Currencies

Mayıs 18, 2023

146 Top Executives Urge Biden to Prevent US Default — Warns of ‘Disastrous Consequences’

Mayıs 17, 2023

Axie Infinity Origins Breaks Through Apple’s App Store Barrier, Now Accessible to Select iOS Users

Mayıs 17, 2023
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Subscribe to Updates

Get the latest sports news from SportsSite about soccer, football and tennis.

Advertisement
Our Picks
  • Facebook
  • Twitter
  • Pinterest
  • Instagram
  • YouTube
  • Vimeo
Don't Miss
Altcoin

Investors Seek Refuge in Cash as Recession Fears Mount, BOFA Survey Reveals

By cryptossorMayıs 18, 2023

Investors, plagued by mounting pessimism, have sought refuge in cash, according to a recent survey…

Report: Well Known Crypto Firms Still Not Adhering to Basic Governance Standards

Mayıs 18, 2023

EU Council Adopts New Rules for Europe’s Crypto Markets

Mayıs 18, 2023

BRICS to Strengthen Economic Cooperation — Sherpa Calls for Increased Trade in National Currencies

Mayıs 18, 2023

Subscribe to Updates

Get the latest creative news from SmartMag about art & design.

Facebook Twitter Pinterest

Type above and press Enter to search. Press Esc to cancel.