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BlackRock's Larry Fink says stocks are 'properly valued' — 'I don't see that many extremes'

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BlackRock CEO Larry Fink discusses the company’s better-than-expected Q3 earnings. Watch the full interview here:

Trump on Friday also said the Federal Reserve should still lower interest rates again even though China and the U.S. moved toward a trade deal. The markets expect withthat the Fed will cut rates by a quarter-point for a third time this year at its meeting later this month. Central bankers cut rates for the first time in more than a decade in July. They cut again in September.

The president has repeatedly bashed the Fed for not reducing borrowing costs even further. In a tweet last month, Trump called Fed Chairman and the other central bankers "boneheads" and urged them to "get our interest rates down to ZERO, or less." On CNBC on Tuesday, Fink cautioned against the kind of negative rates seen in Japan and Europe. "I don't believe negative rates and persistent negative rates translate into more economic activity. It may translate into a depressive element into the economy – especially in Europe and Japan, where 82% of savings is in a bank account. So, they're not enjoying the success that Americans do with low or negative interest rates.

 

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Is China's GDP really holding steady at 6%? How reliable is that figure?

BULLSHIT!

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