BlackRock CEO Larry Fink believes that the U.S. economy is on the brink of a recession, with fears of an economic slowdown increasing since President Trump’s tariff announcements. Fink stated that the pause on some import levies for 90 days is not enough to restore confidence in the economy, leading to uncertainty and a potential widespread slowdown. While surveys show weakening sentiment, data like job growth and retail sales have held up, suggesting that consumer behavior may be affected by tariff threats. BlackRock’s first-quarter financial results revealed uncertainty among clients, with mixed earnings and revenue falling short of expectations. Despite this, the firm saw $84 billion in net inflows and ended the quarter with nearly $11.6 trillion under management. Shares of BlackRock were up slightly in morning trading, indicating some level of investor confidence in the company’s performance.
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