— CEO of BlackRock Larry Fink That was BlackRock’s BLK, +0.29% Chairman and CEO Larry Fink, at the Berlin Global Dialogue 2023 conference on Friday, saying while he is an optimist, there’s a dire shortage of optimism in the world.
“What’s going on in China is a great example of fear,” he said, commenting on how consumers are saving 35% of their disposable income, following the COVID-19 outbreak in that country. Fink weighed into the debate on whether the U.S. was headed for recession, saying he “doesn’t see it anytime soon,” but maybe by 2025. “Whatever recessions we’re going to have, they’re going to be quite modest, so I’m not even that fearful,” he said.
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