BlackRock CEO Defends Firm: US States May Pull Out $1 Billion
BlackRock CEO Larry Fink has stated that he is seeing signs that inflation may ease out. However, he did admit that the same is not reflected in the data. Speaking at the Institute of International Finance conference in Washington, Fink stated, “I just started to see more threads of declining inflation, but they’re not in the numbers yet.” Fink claimed that efforts to combat inflation may eventually have an adverse impact on pricing pressures. This is due to variables including a rapid expansion of new supply chains, which were severely impacted by the COVID-19 epidemic. However, Fink noted that falling prices for stocks and bonds offer chances for investors, adding that his company is observing a “really big interest in bonds.” Fink added, “Other people’s grief is somebody else’s opportunity.” BlackRock facing the wrath of Republicans? Fink has publicly come out in defense of the world’s largest asset manage...